Npower news update
Here's an update on npower, a UK-based energy supplier:
Latest News:
- npower's parent company, Innogy, sells UK business to E.ON: In April 2020, Innogy announced that it would sell its UK energy business, including npower, to E.ON UK. The deal is expected to complete in the second half of 2020, subject to regulatory approval.
- npower's customer base to be transferred to E.ON: As part of the sale, npower's customer base of around 4 million households and businesses will be transferred to E.ON UK. This means that npower customers will become E.ON customers, and will benefit from E.ON's services and tariffs.
- npower's operations to be integrated with E.ON's: The integration of npower's operations with E.ON's is expected to take several months to complete. During this time, npower's staff will work closely with E.ON to ensure a smooth transition for customers.
- No immediate changes expected for npower customers: npower customers are unlikely to experience any immediate changes as a result of the sale. They will continue to receive their energy supplies and services as usual, and will be able to contact npower's customer service team as normal.
Background:
npower is a UK-based energy supplier that was founded in 1999. It provides electricity, gas, and dual-fuel tariffs to households and businesses across the UK. npower is a subsidiary of Innogy, a German energy company.
Recent Performance:
npower has faced challenges in recent years, including increased competition in the energy market and rising costs. In 2019, the company reported a loss of £143 million, compared to a profit of £143 million in 2018.
Conclusion:
The sale of npower to E.ON is a significant development in the UK energy market. While there may be some changes ahead for npower customers, the company's operations are expected to be integrated with E.ON's in the coming months.