Monday, February 19, 2018
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Utility E.ON has loss of $2.1B on nuke shutdown
Germany's E.ON has big loss on early nuclear plant shutdown; up to 11,000 jobs endangered
By The Associated Press

FRANKFURT, Germany (AP) ' German gas and electricity supplier E.ON says it lost euro1.49 billion ($2.13 billion) in the second quarter because of the government's decision to shut down nuclear plants early after the Fukushima nuclear disaster in Japan.

The company said 9,000 to 11,000 jobs were endangered and that a final decision would be made this fall.

The net loss compares to profit of euro1.72 billion a year ago.

Chancellor Angela Merkel's government decided in May to shut all of Germany's 17 reactors by 2022 ' reversing a decision last year to extend their life spans.

Two of E.ON's German nuclear reactors were among eight switched off, and its other four remain open but won't now be able to run as long as the company expected.

E.ON has 79,000 employees.

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