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Centrica warns earnings to be hit by extended nuclear outage

Published 11/08/2014, 09:06
Centrica warns earnings to be hit by extended nuclear outage

LONDON (Reuters) - British utility Centrica (L:CNA), which owns 20 percent of EDF Energy's (PA:EDF) nuclear plants, said a reduction in output from the nuclear fleet would reduce its earnings per share (EPS) in 2014 by around 0.3 pence per share.

EDF Energy lowered its nuclear production forecast on Monday after tests showed an unexpected defect that caused the shutdown of a number of reactors.

"The resulting reduction in output from the affected nuclear power stations is currently estimated to reduce Centrica's earnings per share in 2014 by around 0.3 pence per share," the company said in a statement.

Centrica's EPS was at 26.6 pence per share in 2013 and 2012.

(This version of the story corrects in first paragraph corrects reduction in EPS to 0.3 pence (not percent) per share)

(Reporting by Karolin Schaps; editing by Keiron Henderson)

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