FRANKFURT: Germany’s biggest utility E.ON has abandoned plans to spin off its German nuclear power plants, bowing to political pressure to keep its liability for billions of euros of decommissioning costs and sending its shares to a 20-year low.
The decision weakens the logic of a planned spin-off of the group’s power plants, energy trading and oil and gas activities into a separate unit, seen by analysts as intended partly to ringfence the group’s costly atomic plants that are due to be closed as part of Germany’s move away from nuclear.
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