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German Energy Giant E-ON Suffers Massive Losses

eon[source]

Energy giant E-ON has suffered a loss of 5 billion euro over the first nine months of 2015. Main reason: depreciation of their gas and coal power stations.

Editor: der Spiegel doesn’t say so, but it is obvious that now that Germany is able to generate 33% of its electricity from renewable sources, installed over the past decade or two, fossil fuel based electricity production is simply cornered by wind and solar. This is good news.

[spiegel.de] – E.on soll milliardenschwere Verluste eingefahren haben

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