"Green energy policies bring power giant to €7 billion loss"

The Local Germany News In English:  Germany's number one power supplier, said in a statement that massive writedowns on its electricity plants pushed it deep into the red, but at an underlying level, operating profit was "in line with expectations."

"We posted solid operating results in a very difficult market environment," said chief executive Johannes Teyssen. "Our numbers reflect the far-reaching structural transformation that our industry is experiencing and that continues unabated in the current year....

But despite the difficulties, the company said it had succeeded in reducing its net debt "significantly to €27.7 billion."