Higher network costs and the need to sell excess contracted power back has resulted in Good Energy’s gross profit taking a hit.
Drax posts stable results for H1 2020 as its adjusted EBITDA jumps 30% despite an estimated £44 million COVID-19 hit.
Centrica’s adjusted operating profit has fallen by 14% in the first half of 2020, with the beleaguered supplier pointing to the impact of COVID-19.
Green supplier Good Energy has remained steady in 2019 as it continues its strategy of being more than a “passive” energy supplier.
Strong performance from renewables helped balance other struggles for EDF in 2019, both in the UK and elsewhere.
SSE’s thermal generation fleet lost more than £22 million in the company’s last financial year, leading the utility to laud its networks and renewables business units.
Centrica has warned that it will face “some pressure” next year as Ofgem’s price cap bites, sending shares plummeting in early morning trading.
Germany energy giant innogy has been forced to revise down some divisional forecasts on the back of what it has described as “extraordinary low” wind levels.
Centrica has set ambitious targets for divisions focused on the energy transition after it recorded a slump in H1 operating profit.