Centrica slumped to a £849 million loss in 2019, a performance it blamed on Ofgem’s energy price cap for creating a “challenging environment”.
Capacity Market reinstatement lifts RWE forecasts as utility boasts ‘formidable’ renewables prospects
The reinstatement of the Capacity Market, coupled with better than expected performance, has caused RWE to upgrade its full-year guidance by nearly 30%.
International utility Iberdrola has posted a 20% surge in net profit for the first nine months of 2019, which the company has squared with its “record” investment into renewables and networks.
Innogy saw its first-half income cut by more than a quarter (26.3%) year-on-year as losses from its UK-facing npower unit spiralled.
Centrica’s interim performance was enough for the company to call time on Iain Conn’s tenure as chief executive. As the company begins the hunt for a successor, Liam Stoker questions where Centrica might find them and if the energy giant’s performance holds up any better against the wider issues affecting energy companies today.
International utility Iberdrola has upgraded its net profit expectations for 2019 after multi-billion-euro investments in renewables and networks drove the company forward.
E.On has posted a 10% rise in half-year earnings, bolstered by strong performance from its core business units as its acquisition of innogy appears in the horizon.
Engie has said it withstood the “impact of a vigorous strategic repositioning” last year, creating a cleaner, more profitable offering.
Innogy is doubling down on its vision for growth in decentralised generation and new grid infrastructure as it prepares to “rigorously implement” its new strategy.