Although EON SE spun off Uniper SE, its fossil-fuel unit, to focus on renewable energy, there’s still value left in conventional power production, according to Bloomberg Gadfly’s Chris Bryant. Falling wholesale electricity prices, weak demand and the rise of renewables meant the Uniper assets posted 11.5 billion euros ($13 billion) in pro forma net losses between 2013 and June 2016. But there’s profit to be made from supplying back-up power and Uniper predicts conventional fuel will make up more than half the generation in its big markets in 2025.
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