RWE npower poised to post double-digit profit growth


The supplier raised household energy tariffs by 9pc in November but blamed it on “government policy” and other external factors that were driving up costs.The company, part of German giant RWE, has invested some £3bn in the UK over the past three years and in September opened its new £1bn, 2,000 megawatt MW super-efficient gas power station at Pembroke.Despite low margins on gas-fired generation that have limited Pembroke’s running, the plant is expected to have made a significant contribution to an increase in operating profits, which in 2011 stood at £313m.The company said it puts more money into the UK than it takes out in profits and claims to have invested more than any of the other “Big Six” suppliers.RWE’s npower household electricity and gas supply arm has struggled to control operating costs and reported a £56m loss in 2011, on an earnings before interest and taxation EBIT basis.

via RWE npower poised to post double-digit profit growth – Telegraph.