Scottish Power retail profits hit as customer numbers fall. Scottish Power has reported losing about 200,000 customer accounts during last year, as it faced tougher competition. The energy firm said customer numbers fell from 5.3 million to 5.1 million. The reduction contributed to a 51% drop in earnings from its retail supply division, to £98m. Electricity generation earnings fell by 36%, to £23m, following the closure of coal-burning plants, including Longannet in Fife. However, earnings at its UK renewables division were up 44%, to £316m, as it plugged in new wind farms and output increased 32%. Gas supply was down, due to tighter margins and warmer weather in 2017.
BBC 21st Feb 2018 read more »
An Edinburgh-based ethical energy firm is launching a new green power deal that allows customers to help the four million households across the UK facing the stark choice of whether to heat their home or eat. The new UK-wide tariff, on offer from not-for-profit company Our Power, is not the cheapest rate available but it is still competitive, potentially saving customers £80 a year on bills. At the same time it will cut costs for people who are struggling to pay for power, allowing them to heat their homes for an average of 54 more days a year than they could on a standard variable tariff from the Big Six energy providers. All energy supplied through the +Impact tariff comes from 100 per cent renewable sources, including community energy providers. For every home that signs up, Our Power can offer cheaper prices to a lower income or fuel-poor household. Our Power, established in 2016, is owned by social housing providers, community organisations and local authorities. Its tariffs are available to everyone, regardless of how they pay.
Scotsman 21st Feb 2018 read more »
Centrica, which owns British Gas, is cutting 4,000 jobs as it continues to lose customers. The energy supplier, which has operations in North America and Ireland as well as its main UK market, said group profits fell 17% to £1.25bn. Chief executive Iain Conn said the firm had a “weak” second half of 2017, and it was not helped by political and regulatory intervention in the UK. British Gas shed 9% of its UK domestic customers in 2017. (Today Prog: Centrica said it would sell its shares in the UK old nuclear power plants in consultation with the Government – hoping to sell by end of 2020.)
BBC 22nd Feb 2018 read more »
Energy Voice 22nd Feb 2018 read more »
Engie’s North American subsidiary has acquired wind and solar developer Infinity Renewables and its 8GW-plus pipeline for an undisclosed sum.
Windpower Monthly 21st Feb 2018 read more »