Falling number of customers,planned price cap and tougher competition prompts large fall in value of UK assetsNpower has inflicted a €480m (£427m) writedown on its German parent company, Innogy, or which it blamed on the worsening UK energy market and Prime Minister Theresa May’s price cap.
Innogy said the planned merger of npower and the UK’s second biggest energy supplier,SSE, had not affected its assessment of the reduction in the value of the trade. Continue reading...
Source: guardian.co.uk