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.