Mon, Oct. 12, 9:14 AM
- Shares in E.ON (OTCQX:EONGY) and RWE (OTCPK:RWEOY) surge in European trading after a government review concludes German utilities have set aside enough money to decommission their nuclear plants.
- The results remove concerns that utilities may need to raise additional funding to pay for the dismantling process as well as the storage of nuclear waste, which had led investors to sell off German utility stocks in recent weeks.
- Several brokerages, including Deutsche Bank, Credit Suisse and Societe Generale, either upgraded their ratings or target prices on the utilities.
Dec. 1, 2014, 4:16 AM
- Germany's largest utility E.ON (OTCQX:EONGY) has announced plans to split in two and spin off its fossil fuel power plants into a separate company to focus on renewable energy.
- The company also said it would post a substantial net loss for 2014 due to additional charges of about €4.5B ($5.6B) in Q4, citing its assets in southern Europe as well as loss-making power plants.
- Despite the write down, shares are up 3.3% in Frankfurt.
EONGY vs. ETF Alternatives
E.ON SE with its headquarter in Germany is a global provider of specialized energy solutions. Five global units are responsible for Generation, Renewables, Global Commodities, Exploration & Production, and Technology. Nine regional units manage our operating business in Europe. E.ON generated... More
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