British Energy has announced a 32 per cent fall in pre-tax profits to £538 million.
The company said boiler problems at Hartlepool and Heysham One, two of its eight nuclear power stations, had hurt both output and financial performance.
The group's chief executive Bill Coley said the boiler closure unit project at the two plants was proceeding to plan, with normal service expected to resume in the second and third quarters of 2009.
On the firm's earnings, Mr Coley admitted it was a "disappointing" set of results.
But he insisted Sizewell B in Suffolk had operated to "world class standards", including a 516-day run between refuelling outages.
British Energy's full-year results come a day after the plant suffered its first unplanned shutdown since 2005, prompting power cuts across the south-east.
Mr Coley added: "We are well positioned to manage our existing fleet to best advantage and look ahead to playing a pivotal role in the new build programme."
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