E.ON confirms 30% rise in UK earnings

E.ON UK today confirmed a 30% increase in its earnings for the first half of the year. The energy supplier’s report showed earnings for the first six months of 2012 […]

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By Priyanka Shrestha

E.ON UK today confirmed a 30% increase in its earnings for the first half of the year.

The energy supplier’s report showed earnings for the first six months of 2012 were €297million (£245million), an increase from €228million (£198million) last year.

The German parent company’s first-half earnings rose by a total of €2.4 billion (£1.9billion) before tax to around €6.7 billion (£5.3billion).

Dr. Johannes Teyssen, CEO of the group said: “Our solid first-half results demonstrate that we’re meeting our existing challenges decisively. We successfully renegotiated our gas-procurement contracts and the transformation of our company through our E.ON efficiency-enhancement program is moving forward according to plan.”

Last month British Gas also announced a 23% rise in earnings, which followed calls for it to cut energy prices for its customers.