E.ON said it may book writedowns related to Uniper.
The move could potentially trigger the utility’s third net loss in as many years.
Uniper is the company’s power plant and energy trading unit spin off planned for September.
A spokesman for E.ON said:”We have already made clear at our capital markets day in April that Uniper will be recognised in our books according to its market value and that there might be a need to correct its value.”
E.ON is planning to spin off more than 53% if Uniper, which employs 14,000 people and owns hydroelectric, coal and gas-fired power stations, energy trading as well as stakes in gas fields and pipelines.
According to reports, E.ON said Uniper had to be valued according to its market price following the listing.