Losses at Npower deepened in the first half of the year as an energy industry price cap forced it to cut bills and as customers continued to desert the troubled supplier. The Big Six energy company, owned by Innogy, of Germany, fell to an €81 million loss, compared with one of €18 million in the same period a year earlier. Revenues fell by 3.1 per cent to €3.6 billion. Npower, which supplies energy to 2.3 million households in Britain, has been loss-making for four years, despite restructuring efforts and job cuts. It has warned previously that it is likely to incur a loss of about €250 million this year because of the price cap.
Times 10th Aug 2019 read more »