Npower's profits surge after winter price rise
The energy giant npower posted a 34 per cent leap in annual profit to €480m (£414m) last year, less than four months after hitting customers with an inflation-busting price rise. It increased its UK electricity prices by nine per cent in November, and put up gas bills by 8.8 per cent, pushing the average customer’s dual fuel bill up by more than £100 to £1,352 a year.
Stripping out the impact of currency movements, npower’s operating profit in sterling was 25 per cent higher last year, at £390m. Critics claimed customers were simply paying for better returns for shareholders. Mark Todd, director of the comparison website energy helpline, said: “Prices up and then profits up – it seems to be the same old story in the energy market. Today, consumers are dealing with yet more news of double-digit profit from a major energy supplier.”
A further 300,000 households have been pushed into fuel poverty – spending more than 10 per cent of their income on fuel – taking the total to 7.5 million, according to the Fuel Poverty Advisory Group.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...