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Gaslighted

24 July 2020 By Christopher Thompson

Shares in the UK utility jumped 20% after it offloaded its U.S. arm to rival NRG Energy for $3.6 bln. The cash helps CEO Chris O’Shea lower debt and a pension deficit which together total 4 times estimated 2021 EBITDA. Declining earnings still make it hard to restart dividends.

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