E.ON considers more plant closures as EU slump continues

E.ON FWBEOAN Chief Executive Johannes Teyssen says the company many have to reduce operating costs and sell more power plants, as energy demand in Europe continues to be low.

Johannes Teyssen
"In our power-generation business in Europe...reduced demand continues to adversely impact capacity utilization, prices, and margins," said Teyssen. "We'll therefore further optimize our conventional generation portfolio, reduce costs, enhance our assets' flexibility, and even explore closing assets where necessary," he said.

The news comes on the back of some good stories for E.ON last week when they announced a sharp increase in earnings, following agreement with chief gas supplier, Gazprom .

First-half net profit surged to EUR2.91bn compared with EUR691m a year earlier.

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