EDF revenues fall as nuclear profits drop off

EDF has pledged to step up its renewable energy efforts as its sliding nuclear business sees revenues fall. The French energy giant’s overall annual results for last year show a 16% drop in earnings before interest and tax, falling to £12.2 billion. Earnings in the UK fell by around a third as the company received lower […]

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 […]

How an energy efficient office can increase profits

Many businesses are using far more energy than they need to. Doing more with less energy won’t only benefit the environment but also your business with the money you could save on your energy bills. Energy efficient buildings require lower maintenance fees and cost less to operate. The natural light, comfortable temperatures and increased indoor […]

Octopus Energy’s new tariff allows customers to see profits

Octopus Energy has launched a new tariff that shows consumers how much profit it is making. The energy supplier said its customers will be able to use an app to see the wholesale price they are paying for energy every day, along with the additional costs of supplying that energy as well as the mark-up […]

DONG says profits up in 2016

DONG Energy has increased its 2016 profit guidance to DKK24-25 billion (£2.75-2.86bn), up from DKK20-23 billion (£2.29-2.63bn). The group’s wind power business is expected to reach the high end of the DKK10-12 billion (£1.14-1.37bn) range and gross investments are likely to end up at the lower end of the DKK18-21 billion (£2.06-2.40bn) range. According to the company, […]

Oil giant Shell to cut 6,500 jobs

Royal Dutch Shell has announced plans to cut 6,500 jobs this year. It is part of the company’s plans to reduce $4 billion (£2.6bn) in operating costs and follows the collapse in world oil prices. The oil giant said the company has to be resilient in today’s oil price environment and added it is “planning […]

National Grid sees UK profit rise 7.7%

National Grid saw operating profit in its UK arm rise in the first six months of 2013 after increasing the amount it charges energy customers. Profit was up 7.7% in the first half of the financial year however a poor performance in the US market dragged the company’s overall profits down. Its total operating profits […]

Centrica hints at price rises on the way

Centrica today strongly hinted a gas price rise could be on the way. In the interim statement the British Gas owner said the cost of supplying gas is likely to go up £50 per household and this could have a knock-on effect on prices. In the statement it said: “UK wholesale gas costs are around […]

Consumers “outraged” by energy profits

Despite having some of the lowest bills in Europe, the majority of UK consumers are still not happy with their treatment by the energy companies. Recent research from a report by market research agency YouGov SixthSense has found that 84% of UK consumers felt energy suppliers made maximum profit at the expense of customers. More […]

npower announce increased profits, but say investment is key

Energy supplier npower today announced increased profits of £313 million for 2011- a rise of 34%. The company, which has more than six million customers, said the profits were “a result of efficiency improvements and income from power generation assets.” While some have criticised the firm’s relatively large profits (earnings before tax were 606m euros […]