Centrica Plc, the biggest energy supplier to UK households, said 2014 earnings will be hit even further by a delay in the start of two nuclear reactors by Electricite de France SA.
The utility, which has a 20 percent stake in EDF’s existing nuclear operation, cut its profit forecast to a range of 0.6 pence (10 cents) to 0.9 pence a share, the Windsor, England- based company said today in a statement. That includes the 0.3- pence reduction it estimated on Aug. 11.
Centrica, grappling with a competition probe and the resignations of three senior managers, said in May that profit would be lower and also dropped its expected range for full-year adjusted earnings per share in July, when it announced half-year profit fell 31 percent.
EDF was forced to halt the Heysham and Hartlepool reactors about three weeks ago following a fault. Repairs were expected to last about two months. The Paris-based company said today it will move out the start of the units by a month to seven weeks.
Centrica shares declined as much as 0.7 percent to 322.80 pence in London trading, the biggest drop since Aug. 12, and were 0.5 percent lower at 323.50 pence at 10:04 a.m. in London.
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