Centrica and E.On, two of the UK’s largest energy retailers, have lamented the challenging UK retail market in trading updates issued this morning.
SSE is to consult on more than 400 redundancies within its retail arm, citing increasing competition and spiralling costs.
Centrica has warned that it will face “some pressure” next year as Ofgem’s price cap bites, sending shares plummeting in early morning trading.
ScottishPower has lauded a “pivotal year” after its renewables business surged and its liberalised power supply business bucked the market trend to report a near trebling in earnings.
Walmart, the US owner of UK supermarket chain ASDA, has committed to derive 50% of the group’s energy demand from renewable sources by 2025.
Retailers in Great Britain have cut in-store emissions by 35% as they remain on course to meet ambitious 2020 targets, the British Retail Consortium (BRC) has said.