Utility MVV Energie sees Brexit-related currency, pricing risks (updated)

MVV Energie AG

11/12/2018 10:21

(Adds details, quotes)
    FRANKFURT, Dec 11 (Reuters) - German regional utility MVV
Energie's British operations  MVVGn.DE  could be hit by a
weakening pound and a slowdown of the local economy following
Britain's move to leave the European Union, its chief executive
said on Tuesday.
    MVV, which is headquartered in the German city of Mannheim,
has spent more than 500 million euros ($569 million) to expand
its British business in recent years.
    It operates three power plants there based on biomass and
waste-to-energy technology and is in the process of building a
fourth.
    "If the pound weakens ... we will feel it in our results,"
Georg Mueller told reporters at the group's annual news
conference.
    Less than four months until the United Kingdom is due to
leave the EU on March 29, Brexit was plunged into chaos on
Monday when Prime Minister Theresa May postponed a parliamentary
vote on the issue.  urn:newsml:reuters.com:*:nL8N1YF28D
    The ultimate outcome will shape Britain's $2.8 trillion
economy.
    "If there is a significant slowdown of the British economy
and if that has an impact on waste or biomass volumes, then that
could have an impact on prices," Mueller said.
    ($1 = 0.8790 euros)
    

 (Reporting by Christoph Steitz; editing by Thomas Seythal and
Ed Osmond)
 ((christoph.steitz@thomsonreuters.com; +49 69 7565 1269;
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