Utility company Eon says Germany’s accelerated phasing out of nuclear energy and a new tax on nuclear fuel rods cost it €2.3 billion in the first nine months of the year, the bulk of a 39 per cent slump in the group’s core earnings.

The Düsseldorf company said nine-month earnings before interest, tax, depreciation and amortisation slumped from €10.8 billion in the same period the previous year to €6.6 billion. – (Copyright The Financial Times Limited 2011)