May 11, 2016 / 8:47 AM / 4 years ago

E.ON would pay roughly 10 bln eur under nuclear exit plans-CFO

FRANKFURT, May 11 (Reuters) - German nuclear utility E.ON would need to pay roughly 10 billion euros ($11.4 billion) to meet obligations for closing its reactors and handling waste if the currently presented government plan remained in place, its chief financial officer, Michael Sen, said on Wednesday.

“We would need to pay 10 billion euros,” Sen told journalists during a conference call after E.ON reported first-quarter financial results, stressing this was according to first and very rough estimates on the basis of not yet agreed laws and contracts.

E.ON has stressed its is satisfied with the plan in the sense that it splits responsibility for dismantling and final waste but it has misgivings about a cross-the-board risk premium for unforeseen futures costs, regarding its nature and size.

He said he was worried that having to pay the costs could eat into E.ON’s capital and concern rating agencies and business partners at a time that the company was seeking growth opportunities for its future profitability.

$1 = 0.8783 euros Reporting by Vera Eckert; Editing by Maria Sheahan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below