|Bid||0.000 x 130100|
|Ask||0.000 x 267700|
|Day's range||9.772 - 10.035|
|52-week range||5.993 - 10.810|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||10.42|
German utility Innogy cut 480 million euros ($560 million) off the value of its British electricity and gas supply business npower on Monday, warning more impairment charges could come after this month's deal to merge the unit with rival SSE (LSE: SSE.L - news) 's bigger retail arm. "For some time now our business in the UK is facing immense competition and regulatory risks. The goodwill impairment charge, which cuts npower's value by 10.5 percent to 4.08 billion euros, comes less than a week after Innogy and SSE announced plans to merge their UK retail power businesses and list the new entity on the stockmarket.
FRANKFURT/LONDON, Nov 8 (Reuters) - SSE aims to turn up the heat on top-ranked British Gas with a merger of its UK power and gas retail operations with those of npower, owned by Germany's Innogy. The deal will bolster second-ranked SSE, creating a supply group with 11 billion pounds ($14.5 billion) in combined sales that could kick off a consolidation in the British energy market where established firms are battling smaller, nimble rivals.
E.ON has lost about 200,000 customers in Britain so far this year, its chief financial officer told journalists on Wednesday, highlighting the growing challenges it faces in that market. Marc Spieker said ...
German energy group E.ON (EONGn.DE) said operating profit at its retail business fell by more than a third in the first nine months, singling out difficulties in Britain, where key peers announced plans to merge their struggling customer units. Nine-month adjusted earnings before interest and tax (EBIT) at E.ON's customer solutions segment fell by 36 percent to 353 million euros (310.88 million pounds), slightly missing the 362 million average analyst forecast in a Reuters poll. In Britain, where fierce competition and a looming cap on prices have eroded margins and caused established power retailers to bleed customers, adjusted EBIT fell 37 percent to 144 million euros for a profit margin of 2.8 percent.
German energy group E.ON said operating profit at its retail business fell by more than a third in the first nine months, singling out difficulties in Britain, where key peers announced plans to merge their struggling customer units. Nine-month adjusted earnings before interest and tax (EBIT) at E.ON's customer solutions segment fell by 36 percent to 353 million euros ($409 million), slightly missing the 362 million average analyst forecast in a Reuters poll. In Britain, where fierce competition and a looming cap on prices have eroded margins and caused established power retailers to bleed customers, adjusted EBIT fell 37 percent to 144 million euros for a profit margin of 2.8 percent.
DGAP-News: E.ON SE / Key word(s): Interim Report08.11.2017 / 07:30 The issuer is solely responsible for the content of this announcement.E.ON's nine-month interim report shows core business delivered solid performance Adjusted net income more than 50 percent above prior-year figure Third-quarter earnings higher, nine-month adjusted EBIT markedly recovered Debt reduced further, balance sheet strengthened Earnings forecast for full-year 2017 reaffirmedE.ON's ongoing transformation once again made good progress in the third quarter. ...
Britain's big six energy firms lost a record number of customers in September to smaller challengers, data from industry group Energy UK showed. A total of 163,274 customers switched from the Big Six, ...
Prime Minister Theresa May first proposed a price cap on the energy sector earlier this year, the biggest market intervention since its privatisation almost 30 years ago. "I have been clear that our broken energy market has to change – it has to offer fairer prices for millions of loyal customers who have been paying hundreds of pounds too much," May said on Thursday. The draft bill published on Thursday said the price cap would initially last until 2020, with the potential to be extended by up to three years if needed.
Britain's newly-announced retail energy price cap should allow providers enough "headroom" to compete within the market, business minister Greg Clark said on Thursday following the publication ...
LONDON, Oct (Shenzhen: 000069.SZ - news) 12 (Reuters) - Britain said on Thursday it would ask the regulator Ofgem to devise a price cap for consumer energy tariffs, but did not provide any specific details on how the cap would work for suppliers trying to gauge the impact on their business. The business department set out its draft legislation, saying the price cap would initially last until 2020, with the potential to be extended by up to three years if needed.
LONDON, Oct (Shenzhen: 000069.SZ - news) 11 (Reuters) - A government plan to cap the most common form of gas and electricity tariffs for millions of British households would not come into effect in time for this winter, energy regulator Ofgem said on Wednesday. Prime Minister Theresa May stunned the industry last week when she announced a plan to impose price caps on standard variable tariffs (SVT), the basic rate that energy suppliers charge if a customer does not opt for a specific fixed-term deal. Ofgem chief executive Dermot Nolan said he did not know how long it would take for the government bill to become law, but it would then take around another five months before the regulator could start capping people's bills.
Draft legislation on the British government's plans to cap energy prices will be published on Thursday, a spokesman for Prime Minister Theresa May said on Monday. Last week, May said she would impose a ...
LONDON, Oct (Shenzhen: 000069.SZ - news) 5 (Reuters) - A British government plan to cap prices has wiped hundreds of millions of pounds off the value of household energy suppliers but details are scant and doubts remain about its implementation. Prime Minister Theresa May said on Wednesday that a cap would be imposed on standard variable tariffs (SVT), the basic rates that suppliers charge if a customer does not opt for a specific payment plan for gas and electricity. Under the proposals, energy market regulator Ofgem would be responsible for setting the new cap which would be a temporary measure kept under review.
LONDON, Oct (Shenzhen: 000069.SZ - news) 5 (Reuters) - There is a strong consensus within the British parliament that the energy market needs to be restructured and lawmakers will act to give the regulator the necessary power to impose price caps if needed, business minister Greg Clark said. Prime Minister Theresa May stunned the energy market on Wednesday when she announced a plan to impose price caps on standard variable tariffs, the basic rates that energy suppliers charge if a customer does not opt for a specific plan. "If they (the regulator) need legal back-up there is a strong consensus in parliament for this, so we will publish legislation and we'll invite the whole house to endorse this so that they have the legal certainty," Clark told BBC Radio 4 on Thursday.
Centrica, Britain's biggest energy provider, urged the government on Thursday to be more imaginative in its approach to restructuring the market, saying plans to cap prices lead to less competition and ...
LONDON, Oct (Shenzhen: 000069.SZ - news) 5 (Reuters) - The British government has a duty to act to stop energy companies taking advantage of their loyal customers by overcharging them, business minister Greg Clark said on Thursday. "A lot of people see themselves as loyal customers and because the companies know that they're loyal ... they are overcharging them," Clark told Sky News.
British Prime Minister Theresa May showed guts and grace by continuing with her keynote Conservative Party conference speech despite a repeated coughing fit and an interruption by a prankster, business ...
MANCHESTER, England, Oct (Shenzhen: 000069.SZ - news) 4 (Reuters) - Prime Minister Theresa May said she would impose a price cap on the energy market to help millions of households struggling with rising prices, hitting shares in the leading providers hard. May had proposed a price cap on the sector earlier this year, the biggest market intervention since privatisation almost 30 years ago, but the plan was thrown into doubt after her ruling Conservatives lost their parliamentary majority in an election in June. Energy bills have doubled in Britain over the past decade to an average of about 1,200 pounds ($1,500) a year, putting the biggest providers in the sights of politicians.
LONDON, Oct (Shenzhen: 000069.SZ - news) 4 (Reuters) - British business leaders reacted warily to Prime Minister Theresa May's plan for more government intervention in power and housing markets, and said big unanswered questions about Brexit would drag on the economy. In an attempt to counter Britain's left-wing Labour Party, May's speech to her Conservative Party on Wednesday balanced emphasising the importance of free markets with a pledge to cap what she called "rip-off" energy prices. The revival of the cap - which May appeared to have dropped after losing her parliamentary majority in a June election - was an unwelcome surprise for representatives of British employers, who are already disappointed by the government's lack of progress in Brexit talks.
MANCHESTER, England, Oct (Shenzhen: 000069.SZ - news) 4 (Reuters) - Britain said on Wednesday it would apply a temporary price cap to all standard variable tariffs in the energy market - the basic and most common form of billing - in a bid to drive down prices. The price cap, announced by Prime Minister Theresa May at the annual Conservative Party conference, will be temporary and will be set by the regulator Ofgem, the business department said.
A price cap on the British energy market would apply to all standard variable tariffs, Prime Minister Theresa May's office said on Wednesday, in a move that could lower prices for millions of households. ...
** Deutsche Bank ponders the impact of electric vehicles growth on European utilities and sees electricity distribution cos as the likely clearest winners despite some operational challenges ** DB highlights ...
The Scottish government has approved E.ON's application to build an 18-turbine wind farm at Benbrack, the German utility said in a statement on Monday. The site will be capable of producing up to 59.4 ...
PARIS/FRANKFURT, Sept 15 (Reuters) - The battle over how and where Europeans charge their electric cars is expanding from the continent's cities to its motorways. Power utilities, tech start-ups and oil majors are fighting to establish themselves as the dominant players in the fast-growing business of charging stations – but advances in electric vehicles means where they build them is changing. "It is a bit of a landgrab now to win this sector," said Tim Payne, chief executive of British charging start-up InstaVolt, which has raised 12 million pounds ($16 million) to install 3,000 charge points across Britain by 2020.
British energy market regulator Ofgem hopes to speed up the launch of an energy price cap for vulnerable households by publishing a consultation on the issue by the end of September, it said on Thursday. Last month, Ofgem said it could cap bills for some of the most vulnerable households and make switching supplier easier, in response to a government request for it to set out plans to help customers on the poorest-value tariffs. In its national election campaign, British Prime Minister Teresa May's government said it would tackle high household energy prices if she was re-elected by setting a cap on standard variable tariffs which could affect 17 million families.