PARIS – France’s Engie warned on Tuesday of an earnings hit from European Union accredited windfall levies and larger-than-expected provisions for dismantling Belgian nuclear crops, sending the vitality firm’s shares sharply decrease.
Engie forecast the affect on its group EBITDA from windfall levies in France, Belgium and Italy can be as excessive as 0.9 billion euros ($957 million)in 2022 and as much as 1.5 billion euros in 2023, largely referring to nuclear operations.
“Engie retains the potential of contesting taxes that, in its view, don't adjust to the authorized framework and introduce unjustified discrimination between operators or vitality sources, particularly in Belgium and Italy,” it mentioned in an announcement.
Individually, Engie mentioned it had been informed by Belgium’s Fee for Nuclear Provisions that the monetary provisions related to decommissioning nuclear energy stations and spent gasoline administration would improve by 3.3 million euros.
The will increase proposed by the CNP had been disproportionate, Engie mentioned, including that it will submit an tailored proposal.
Engie’s shares had been down 6.4% at 0945 GMT, the worst performer on France’s SBF-120 index.
($1 = 0.9406 euros)
(This Dec. 20 story has been corrected to repair determine in paragraph 4 to three.3 billion euros.)
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