Germany’s Energy Industry A ‘Disaster’ – France’s EDF Chief – 9 October 2014

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Profits have declined for German energy companies since Angela Merkel decided to shake up the power industry by cutting nuclear energy in favor of renewables. The impact on the energy sector is severe, and may be having a domino effect across Europe.

Henri Prolio, the Chief Executive of France’s state-owned EDF, has openly criticized Germany’s two biggest energy suppliers, RWE and E.ON.

“When it comes to energy they are in a disaster. Their two major companies – E.ON and RWE – are under huge pressure. One is more or less dead, the other one is in a very difficult situation,” Henri Prolio claimed, adding that his company was doing “quite well.”

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