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EON Loses as RWE’s Coal Plants Win Germany’s Green Shift: Energy

Germany’s largest power generator is emerging as the biggest loser in the country’s shift to renewable energy.

EON SE, the worst-performing stock in Germany’s benchmark DAX index for the first year since the company was formed in 2000, has ripped up earnings forecasts as a surfeit of electricity from wind turbines and solar panels makes its fleet of gas-fired plants unprofitable. In contrast, RWE AG has gained 16 percent because EON’s closest rival has more cheap-to-run coal stations better able to compete with renewables.