(Adds details on asset write-downs, investment plans)
MADRID, Feb 4 (Reuters) - Spanish utility Naturgy reported a net loss in 2020 after 2.84 billion euros ($3.4 billion) in writedowns on assets mainly in its home market and in Argentina as the COVID-19 pandemic slashed demand for gas and electricity.
It made a net loss of 347 million euros versus a net profit of 1.4 billion in 2019. Earnings before interest, tax, depreciation and amortisation fell to 3.45 billion euros from a revised 4.25 billion.
Naturgy wrote down 1.15 billion euros on its combined-cycle gas power plants in Spain as regulatory changes made these assets less profitable than renewables.
And in Argentina, it wrote down almost all the value of its assets, saying that high inflation is denting profits as local regulators have prevented utilities from raising prices for a year-and-a-half.