Npower will remain a drain on its German parent company this year as the Big Six supplier continues to sell energy at a loss to defend its share of the increasingly competitive market. Innogy, which is owned by RWE, said the UK business dragged earnings in its retail arm down 8pc from the year before to 588m euros after slipping to an operating loss in the first half of the year. Npower’s adjusted earnings before interest and tax slumped £78m to a loss of £11m in the first six months of the year. Innogy warned that deeper losses could emerge if a regulatory crackdown on standard energy prices leads to a price cap on bills.
Telegraph 11th Aug 2017 read more »
FT 11th Aug 2017 read more »