E.On is still Germany’s largest utility company, but it continued a three-year decline on the Global 500 due to Europe’s record-low wholesale electricity prices. On top of the energy crisis, Germany’s nuclear phase-out will likely cost E.On billions as the company works to gradually close its six nuclear plants by the 2022 deadline. In January, E.On took an important step toward mitigating the damage by separating its fossil fuel assets into a subsidiary, Uniper. But it maintained control of the nuclear power division behind pressure from the German government.
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