Metering
New board members appointed by Ofwat
Ofwat has announced that they have appointed 3 new non-executive directors to it’s board. The new appointments, who joined on the 1st May are Christopher Burchell, managing director of Southern Railway, Martin Lawrence, managing director of energy sourcing and
Eon takes a drop in earnings
Eon’s earnings for the first quarter in 2012 took a drop of 5 % against the previous year. Earnings before interest, tax, depreciation and amortisation (Ebitda) fell by €0.2 billion to €3.6 billion, which was in line with expectation. The
Npower accused of dodging £108 million tax payment
Npower has come under fire for offshore tax arrangement that apparently allows them to dodge £108 million of tax payments. RWE, the owners of Npower, have loaned £2.3 billion since 2008 through Maltese company Scaris according to a report by
Industry experts give cautious support for Tory proposal to overhaul regulation
A new proposal to liberalise regulation of energy and water companies has gained approval, albeit cautiously, from industry experts. Conservative strategist, John Penrose MP has recommended that there should be a move away from constraining companies through licence conditions to
Hinkley Point C suffers significant jobs cuts
EDF are cutting a “significant number” of jobs at Hinkley Point C as most of the preparation work has now been completed prior to construction, and they are now “refocusing it’s activities”. Currently there are more than 800 employees and
Biggest threat to energy utilities is political intervention
According to an Ernst and Young report launched today, changes to energy policies are the biggest threat to the future of utility companies. The report surveys 110 power and utility companies from 20 countries. Richard Postance, power and utility advisory
Npower awarded the Carbon Trust Standard
In recognition of reducing it’s carbon footprint successfully, Npower has been awarded the Carbon Trust Standard. In 2012, Npower reduced it’s electricity consumption by 12% in comparison to the previous year and puts it on the right track to
Co-op Energy price increase for Pioneer tariff customers
It was announced today that Co-operative Energy is hiking it’s prices for customers on their Pioneer scheme. The supplier is raising it’s energy prices by an average of 8.5% for gas and 9% for electricity, adding more than £100
SSE fraud investigation into it’s mis-selling tactics
Labour MP Barry Gardiner has written to Scotland Yard to investigate into SSE’s mis-selling tactics to check if fraud was committed. Gardiner sits on the Energy and Climate Change Select Committee and argued that judgement was down to the courts
SSE hit with £10.5m mis-selling fine by Ofgem
Ofgem is to fine SSE a record-breaking £10.5 million for mis-selling it was announced today. Sales representatives were found to have made ‘misleading and unsubstantiated statements ‘ to potential customers, with reference to savings they could make with the company.
