Troubled big six supplier Npower lost 77,000 customers last year , providing fresh evidence of its struggle to get back on track after years of disappointing customer service and steadily rising costs. The perfect storm led to an operating loss of £90m last year, an improvement on its £99m loss the year before but still well below its £183m operating profits in 2014. Paul Coffey, chief executive of the supplier since late 2015, described the retail market as “intensely competitive and difficult” and revealed that the company’s major turnaround plan struggled to gain traction after its efficiency savings were wiped out by rising industry costs.
Telegraph 13th March 2017 read more »
SSE is to raise its electricity prices by 14.9 per cent, adding £73 to an annual bill for 2.8 million households. Britain’s second-biggest energy supplier blamed the rising costs of renewable energy subsidies and installing smart meters. The company said it would leave gas prices unchanged, resulting in an average increase to a dual fuel bill of 6.9 per cent. SSE’s increase will increase political pressure to act on energy prices, days before parliament is due to debate the issue. Fifty MPs have backed a motion demanding “immediate action” to ease the burden on households.
Times 14th March 2017 read more »