Npower to make loss

Npower to make loss

Innogy has said that its subsidiary Npower will post a loss due to the situation of the UK energy markets.

The German utility company has cited “political pressure” as a root cause of its economic position.

The company cited lack of clarity from the UK government over energy policy.

In a phone call to Reuters the CFO of Innogy, Dr Bernhard Guenther said: “The sword of Damocles still hangs over all of this, in the form of further regulatory intervention by the UK government”.

Energy prices have been rising in the UK with British Gas being the latest to raise prices for customers.

A review into the cost of energy announced recently does not have the power to recommend tax changes.

A co-founder of The Big Deal, an energy collective, said that: “With this review, the government is simply kicking the can down the road.”

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