Ørsted boosts profit by 18% as it goes green

Ørsted earned an operating profit of DKK22.5 billion (£2.65bn) in 2017, an increase of 18% on the year before. The company’s financial results for the year also show it increased its share of renewable energy by 14% to 64% – its target is for at least 95% of its heat and power generation to be green by […]

Blackouts ‘could cost UK businesses £2.8m each’

Medium-sized UK businesses without energy resilience strategies are risking an average of £2.8 million each year in damages and lost opportunities. That’s among the findings from Centrica Business Solutions’ new report, which is based on a survey of more than 300 organisations across the UK and Ireland. When questioned, senior decision makers who had not […]

E.ON sales in first quarter down 7% from last year

E.ON’s sales in the first quarter of 2017 fell 7% year-on-year to around €10.5 billion (£8.9bn). The German energy firm said the drop in performance was in line with its expectations for the year, primarily due to operating in a “difficult business environment”. The company disclosed adjusted Earnings Before Interest & Tax (EBIT) of just above €1 billion […]

Centrica expects earnings dip from nuclear closure

British energy giant Centrica warned its shareholder earnings may dip after the Heysham and Hartlepool nuclear plants were shut. The two plants owned by EDF Energy were closed for inspections, it was announced today, because of a “defect” discovered in a boiler spine at one reactor in the Heysham 1 plant. Today Centrica said the […]

Power firm Drax says earnings “ahead of expectations”

Power firm Drax said today that despite falling earnings in 2013 they were “ahead of expectations”. The owner of Drax power plant in North Yorkshire released its results showing total revenue hitting £2,062 million, £282m more than in 2012. However its earnings (before interest and tax) for 2013 were down 23% at £230 million. It blamed […]

EU oil and gas sector to ‘struggle’ in 2013

The European oil and gas sector will be “unattractive” this year and is set to “struggle”, according to new research. Analysts at S&P Capital IQ Equity Research said that would be down to poor revenues and earnings in the coming months as well as increased capital expenditure. They downgraded the oil and gas sector to […]

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 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 […]

E.ON group sees “extraordinary” earning rise

E.ON saw an “extraordinary” jump in earnings in the first half of 2012 of more than two billion euros before tax. The German parent company of energy supplier E.ON UK announced it expects its group EBITDA to be around €6.7 billion (£5.3bn), up more than a fifth from €4.3 billion (£3.4bn) the year before. It […]

E.ON announces weakened profits

Big Six energy firm E.ON has said its retail business profits are down 7.6% from the previous year. The power company, which supplies electricity and gas to 4.8 million homes reported profits of £304 million in the UK. The lower earnings came despite E.ON hiking its electricity bills by 11.4% and gas prices by 18.1% […]

Gazprom expect earnings to double

Russian power firm Gazprom expectsits earningsbefore interest, tax, depreciation and amortisation (EBITDA) for its gas business to almost double to 2.7 trillion roubles (£57bn) by 2020, according to reports. Reuters claim that Gazprom believe their 2011 earnings before tax reached 1.4 trillion roubles (£29.5bn). The news comes shortly after the power firm admitted they have […]