Utility EnBW Energie Baden-Wuerttemberg AG (EBK.XE) said Tuesday the temporary closure of two of its nuclear reactors slashes around EUR150 million off adjusted earnings before interest and taxes in 2011.

Chief Executive Hans-Peter Villis told shareholders at the company's annual general meeting that the earnings hit would be even higher if the two reactors would be shut permanently.

"The impact on earnings would rise to EUR400 million to EUR450 million if the extension of reactor operating lives [that was decided by the government last year] were to be retracted," Villis said.

Villis's comments come as two of EnBW's four nuclear reactors have been temporarily shut down while the German government undertakes a drastic review of its atomic energy policy following the nuclear accident at Japan 's Fukushima Daiichi power plant.

German Chancellor Angela Merkel has pushed for a three-month safety review of all 17 German nuclear power plants, ordering the country's seven oldest reactors closed for safety checks. Many observers have speculated that some or all of the plants may not reopen.

Two of the reactors--Neckarwestheim 1 and Philippsburg 1--are owned and operated by EnBW.

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