Wind farms and its household energy supply business helped to lift Scottish Power’s profits to £1.5 billion in 2018, from £1.2 billion a year earlier. The British division of Iberdrola, the Spanish utilities group, said that profits at its renewables division were up 33 per cent to £458 million, thanks to a 9 per cent increase in wind power generation after it installed eight onshore wind farms.
Times 21st Feb 2019 read more »
Telegraph 20th Feb 2019 read more »
Britain’s Centrica warned on Thursday a national price cap on energy bills and a fall in nuclear output and volumes at its oil and gas division would hit its 2019 results, sending its shares down 8 percent. Reporting a 12 percent rise in 2018 operating profit, Centrica, owner of Britain’s largest energy supplier British Gas, said a cap on standard energy prices would lead to a one-off negative adjusted profit impact of about 70 million pounds ($91 million) in the first quarter of 2019. Late last year Centrica said it would seek a judicial review of the way regulator Ofgem calculated part of the price cap, which was initially set around 6 percent lower than British Gas’ standard variable tariff.
Reuters 21st Feb 2019 read more »