Latest news update on npower
Npower is a British energy company that was acquired by E.ON in 2019. Here are some of the latest news updates on Npower:
- Npower to be rebranded as E.ON Next: In October 2020, E.ON announced that it would be rebranding Npower as E.ON Next, with the aim of creating a single brand for its energy supply business in the UK. The rebranding is expected to be completed by the end of 2021.
- Job losses at Npower: In 2020, Npower announced plans to cut around 2,500 jobs as part of a restructuring effort aimed at reducing costs and improving efficiency. The job losses were part of a wider restructuring plan that also included the closure of several offices.
- Npower's customer base shrinks: According to a report by the UK's Office of Gas and Electricity Markets (Ofgem), Npower's customer base shrank by around 12% in 2020, from 4.8 million to 4.2 million. This was due in part to the company's struggles to compete with other energy suppliers.
- Npower's profits decline: In its 2020 financial results, Npower reported a decline in profits, with the company's operating profit falling by around 20% to £143 million. The decline was attributed to increased competition in the energy market and higher costs.
- Npower's plans for renewable energy: Despite its struggles, Npower has announced plans to invest in renewable energy, including wind and solar power. The company has also committed to reducing its carbon emissions by 80% by 2050.
These are just a few of the latest news updates on Npower. If you're looking for more information, I recommend checking out the company's website or following reputable news sources that cover the energy industry.