E.ON SE, Germany’s biggest utility, said on its first quarter presentation Wednesday, that its power generation business across Europe remains under intense pressure as power prices are hovering around historical lows. In charts published on the company’s website, E.ON said it could mothball the 430-megawatt gas-fired power plant Malcenize in Slovakia, Dow Jones reported. The announcement of the possible mothballing of the facility comes after E.ON late last month struck a last minute deal with regulators and a power grid operator in Germany over keeping two modern, but unprofitable gas-fired power plants in operation for the time being.
    E.ON SE, Germany’s biggest utility, reported a 16% drop in profit in the Q1 because of divestments, lower output and narrower margins in power generation from fossil fuels. Underlying net income, the profit measure E.ON uses to calculate its dividend, fell to €1.39 billion ($1.82 billion) from €1.66 billion a year earlier, the Dusseldorf-based company said.