|Bid||11.34 x 130100|
|Ask||11.34 x 267700|
|Day's range||11.17 - 11.38|
|52-week range||8.08 - 11.56|
|Beta (5Y monthly)||1.01|
|PE ratio (TTM)||10.29|
|Earnings date||25 Mar 2020|
|Forward dividend & yield||0.43 (3.83%)|
|Ex-dividend date||15 May 2019|
|1y target est||10.33|
British energy companies will from May 1 be forced to pay automatic compensation to customers facing problems when switching supplier, regulator Ofgem said on Wednesday. Britain has a cap on the most widely used energy bills but Ofgem wants to encourage people to look at switching supplier to see if even more money can be saved. "We are introducing these new standards to give customers further peace of mind, and to challenge suppliers to get it right first time," said Mary Starks, executive director for Consumers and Markets at Ofgem.
UK's energy regulator said on Friday the price cap for bills will fall by 17 pounds to 1,162 pounds during the summer, as wholesale energy prices have declined in the last few months. "A strong supply of gas, such as record amounts of liquefied natural gas and healthy gas stock inventories, has been the main factor pushing down wholesale prices," Ofgem said. Ofgem, citing a drop in wholesale prices, lowered the cap last August as well by 75 pounds.
Alongside Npower, the Big Six, which control about 70% of Britain's retail energy market, are Centrica's British Gas , SSE, EDF Energy, Iberdrola's Scottish Power and another E.ON-owned supplier operating under the E.ON brand. British Gas dominates with about 24 million customers. E.ON said on Friday it planned to break up Npower under a 500 million pound ($642 million) restructuring, which a union said could put up to 4,500 jobs at risk.
FRANKFURT/DUESSELDORF, Germany, Nov 29 (Reuters) - German energy group E.ON plans a 500-million-pound ($642 million) break-up of the struggling British Npower division it inherited from Innogy, which unions said could put up to 4,500 jobs at risk. E.ON's plan includes managing Npower's residential and small and medium-size business customers on the same platform as its own, while putting Npower's industrial and commercial customers into a separate business. The rest of Npower will be closed.
German energy group Innogy on Thursday said it was continuing to lose clients in Britain, where a price cap has increased pressure on the 'Big Six' energy providers. Npower, Innogy's British retail unit, lost 261,000 customers during the third quarter, bringing total customer losses to 447,000 so far this year.
British Prime Minister Boris Johnson promised on Sunday "to get Brexit done", with his Conservative Party making an election pledge to bring his deal to leave the European Union back to parliament before Christmas. With Britain heading to the polls on Dec. 12, the governing Conservatives rolled out an election manifesto that promised more public sector spending and no further extensions to the protracted departure from the EU.
British Prime Minister Boris Johnson will promise to bring his Brexit deal back to parliament before Christmas when he launches his manifesto on Sunday, the cornerstone of his pitch to voters to "get Brexit done". Voters face a stark choice at the country's Dec. 12 election: opposition leader Jeremy Corbyn's socialist vision, including widespread nationalisation and free public services, or Johnson's drive to deliver Brexit within months and build a "dynamic market economy". Opinion polls show Johnson's Conservative Party commands a sizeable lead over the Labour Party, although large numbers of undecided voters means the outcome is not certain.
RWE AG, Germany's largest power producer, gave profit forecasts for its renewables business that fell short of some analysts' expectations, casting doubt over whether the booming sector will prove as lucrative as hoped. Fresh off a deal to acquire the renewable units from peer E.ON and former subsidiary Innogy, RWE said pro-forma adjusted core earnings from green energy operations would be 1.3 billion-1.5 billion euros ($1.4 billion-$1.7 billion) this year.
A British employers' group criticised on Monday what it said would be the "beyond eye-watering" cost of the opposition Labour Party's plans to return utilities, train companies and the Royal Mail to public ownership. The Labour Party has moved sharply to the left under its leader Jeremy Corbyn, and although it lags the ruling Conservatives in opinion polls, Brexit turmoil and the likelihood of an early election could see it take power. The Confederation of British Industry said Labour's plans would have an upfront cost of 196 billion pounds ($249 billion), assuming Labour paid the full market value of companies involved - similar to a 176 billion-pound estimate made last year by the pro-privatisation Centre for Policy Studies think tank.
HELSINKI/FRANKFURT, Oct 8 (Reuters) - Finnish utility Fortum is set to gain control of Germany's Uniper by acquiring the stakes of activist funds Elliott and Knight Vinke, potentially ending a long-running deadlock over ownership of the group. State-controlled Fortum has been seeking control of the energy firm since 2017, but Uniper's top management had opposed a full takeover, warning it could result in a break-up and threaten the firm's credit rating. If approved by regulators, the agreement between Fortum and the two activist funds would simplify the complex ownership structure that has made resolving the stand-off difficult.
Profits from supplying gas and electricity at Britain’s big six energy firms sank by a combined 35 percent last year as they continued to lose customers to smaller rivals, a report by energy market regulator Ofgem said on Thursday. Britain’s so-called 'Big Six' energy suppliers - Centrica's British Gas, E.ON, SSE, EDF's EDF Energy, Innogy's npower and Iberdrola's Scottish Power - have faced competition from more than 60 smaller firms, often offering cheaper prices. In its annual state of the market report, Ofgem said the six companies had lost around 1.3 million customers and they served just above 70% of domestic customers as of June this year, down from around 75% in June last year.
* European shares fall after disappointing PMIs * STOXX 600 down 0.8% for biggest one-day fall since Aug. 14 * DAX hits lowest in 2 weeks * Euro zone business growth stalls in September * Investors wait UK Supreme Court ruling on Brexit on Tuesday * * Travel sector stocks gain after Thomas Cook collapses Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: firstname.lastname@example.org CLOSING SNAPSHOT: DISMAL PMI CAST PALL OVER EUROPE (1614 GMT) Gloom about the state of the euro-zone economy following dismal manufacturing data for Germany cast a pall over European stocks today, prompting a rush for the exits and sending the pan European STOXX 600 and euro-zone index down 0.8% and 1% for their worst day in weeks.
* European shares fall after disappointing PMIs * STOXX 600 down 0.9%, DAX hits lowest in 2 weeks * Euro zone business growth stalls in September * Investors wait for clarity on Sino-US talks * Travel sector stocks gain after Thomas Cook collapses Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: email@example.com THOMAS COOK: GAMECHANGER FOR TROUBLED TRAVEL SECTOR?