Summary Box: E.ON sees 2nd-quarter earnings slip on higher tax, interest expenses

Summary Box: E.ON sees 2nd-quarter earnings slip

RESULTS: German energy producer E.ON AG said its second-quarter earnings fell 12 percent as higher tax and interest payments offset improved revenue. It left its full-year forecast unchanged, citing continued uncertainty in government energy policy and future earnings development in its gas business.

BOTTOM LINE: Earnings totaled euro1.63 billion ($2.1 billion) in the April-June period, down from euro1.85 billion a year earlier. Revenue rose 15 percent to euro18.62 billion ($23.97 billion) from euro16.17 billion.

BACKDROP: Germany is expected to decide this fall how much it may roll back longstanding plans to shut its nuclear power plants by 2021. A tax on nuclear fuel rods also was recently announced as part of a government austerity plan. E.ON has estimated that the new tax would impact its earnings by euro1.3 billion to euro1.5 billion ($1.67-$1.93 billion) per year.