nuclear-news

German utility company thriving following exit from nuclear power

E.ON triples net profit as nuclear past fades  Aug 13, 2012  
* H1 net 3.13 billion euros vs 948 million year ago

* Trading and Optimisation unit seen posting full-year profit

* Could close some power plants

* Shares up 1.2 pct (Recasts, adds trading unit, analyst)

By Christoph Steitz and Vera Eckert FRANKFURT, Aug 13 (Reuters) – E.ON AG, Germany’s largest utility, said net profit more than tripled in the first half of the year, benefiting from a gas price deal with Russia’s Gazprom and absence of charges related to Germany’s exit from nuclear power.

German utilities have posted strong first-half results so far, thanks to renegotiated gas purchase contracts and higher selling prices, in a recovery from the downturn caused by the government’s decision last year to shut nuclear power stations.

Last month, EnBW, Germany’s third-largest utility, said first-half sales at its gas unit rose a third because of an expansion in gas trading activity….
http://in.reuters.com/article/2012/08/13/eon-results-idINL6E8JD1220120813

August 14, 2012 - Posted by Christina Macpherson | business and costs, Germany