Eon CEO Expects Continuing Operations Of Last 3 Nuclear Power Plants To Relieve Electricity Market

German electric utility E.ON AG's (EONGY.PK) CEO Leonhard Birnbaum said the company expects that a regular continued operation of the last three nuclear power plants beyond 2022 would reduce electricity prices and relieve the electricity market.

Birnbaum in an interview with the news magazine Spiegel said, "If the prices are so high and the price curves so steep, then even a relatively small secured power has a big impact. So it would probably already have a significant effect."

According to him, Germany's severe electricity problem is a consequence of the tense gas market, as well as the lack of secure base load capacity, and power plants.

Birnbaum said he is open to corresponding talks with politicians if the federal government decide to extend the operation of nuclear reactors such as the Eon power plant Isar 2 in Bavaria.

The CEO added that Eon could continue to operate the power plant technically safely.

In Germany, E.ON shares were trading at 8.74 euros, up 2.68 percent.

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