Possible new record loss for E.ON

German utility E.ON could finish this year with another record loss, company sources told German business newspaper Handelsblatt. The sources attributed the potential loss to rising costs of the country’s nuclear exit, spinning off its conventional energy business and low interest rates in the capital markets. “The ‘transitional year’ will be concluded with a horror-result for E.ON,” writes Handelsblatt. The Uniper spin-off alone could lead to high write-offs, as E.ON’s 47 percent share in the new company was on the books at 5.5 billion euros, yet the current valuation of the share is just 2.1 billion euros, according to Handelsblatt.

Read the article (behind paywall) in German here.

For background on the struggling utilities read the CLEW dossier Utilities and the energy transition.