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Energy Provider EON Posts Record Net Loss of €7 Billion in 2015

  • Full-year net loss more than doubles to 7 billion euros
  • Shares fall 3.1 percent, biggest loser in benchmark Dax index
Chimneys emit vapor at Jaenschwalde lignite power plant, operated Vattenfall AB, at dusk in Peitz, Germany, on Tuesday, Dec. 15, 2015. Global governments and companies are counting the costs and benefits from the United Nations COP21 climate agreement, which calls for wholesale transformations of energy, transportation, and dozens of other lines of business.
Photographer: Krisztian Bocsi/Bloomberg
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EON SE, Germany’s largest utility, reported its biggest ever annual loss after writing down the value of its coal and gas-fired power plants by billions of euros.

Its net loss more than doubled to 7 billion euros ($7.7 billion) in 2015 from a year earlier, the Essen-based company said Wednesday in a statement. That missed the full year 6.4 billion-euro loss predicted by 11 analysts surveyed by Bloomberg.