4th Sep 2014 06:42
LONDON (Alliance News) - Energy company Centrica PLC said Thursday its earnings per share for 2014 will be hit harder than expected by the boiler inspection undertaken by EDF Energy at the Heysham 1 and Hartlepool nuclear power stations.
Centrica holds a 20% stake in EDF Energy's existing nuclear operations.
On the basis of the latest estimates for returning the reactors to service, and the associated costs, Centrica's 2014 earnings per share are now expected to lower by between 0.6 and 0.9 pence per share, including the 0.3 pence per share announced on August 11, Centrica said.
Centrica had previously, on August 11, said its 2014 earnings per share were expected to be reduced by 0.3 pence per share, reflecting EDF Energy's initial estimate of the reduced output from the affected nuclear power stations.
Following the inspections, EDF Energy said that, dependent on the programme of work it will have to undertake on the power stations, it expects a phased return to service between the end of October and the end of December 2014.
By Sam Unsted; [email protected]; @SamUAtAlliance
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