E.On risks price freeze regret as it cuts gas bills January 13, 2015 THE PRESSURE is now on the UK’s energy providers, with E.On breaking ranks and cutting its gas prices for customers. The company yesterday reduced its standard gas price by an average of 3.5 per cent, which it said was equivalent to £24 off an annual gas bill. The cut follows an 11 per cent drop in [...]
E.On becomes first energy firm to cut gas prices in response to government demands January 13, 2015 E.On is cutting its standard gas tariff by 3.5 per cent, with the change coming into effect immediately. The German-owned firm said the cut will save two million households £24 each year on their average annual energy bills. The move is a reaction to pressure placed on big energy firms to make their [...]
E.On UK supply profits dive due to mild weather August 13, 2014 German energy giant E.On’s UK subsidiary yesterday posted a 31 per cent drop in first-half profit for its supply arm – but its generation earnings rose by the same percentage. The warmer weather lowered demand for energy, causing revenue from the supply part of the business to fall 9.7 per cent to £3.95bn over the [...]
E.On to pay out £12m to customers after mis-selling probe May 16, 2014 Ofgem has announced that energy firm E.On will pay out £12m to its most vulnerable customers, for a catalogue of errors and poor sales practices. The industry regulator's recent investigation found that the firm provided misleading information to customers when selling deals on the doorstep and on the phone. Between June 2010 and December 2013, [...]
E.On UK supply profits fall but earnings from generation rise May 13, 2014 ENERGY giant E.On yesterday said revenue and profit for its UK supply arm fell in the first quarter of the year, due to milder weather. Profit from the big six supplier division slipped to £177m from £213m in 2013, while turnover dropped to £2.34bn from £2.57bn. But profit from generation and upstream activities in the [...]
E.On warns on profit as power plants struggle March 12, 2014 GERMAN power giant E.On yesterday warned that profits could decline as much as one third this year, as its coal and gas plants continue to suffer due to the rise in renewable energy generation. The company, which owns one of the UK’s big six suppliers, expects earnings this year to be between €8bn (36.7bn) and [...]
Renewables policy blamed for decline in E.On and GDF profits November 13, 2013 GERMAN energy firm E.On yesterday narrowed its full-year earnings forecast, after posting a 19 per cent decline in earnings for the first nine months of the year. The integrated energy firm, which supplies power across Western Europe, blamed government support for renewables over conventional forms of energy for the decline. An increase in renewables has [...]