Reuters reports on challenging U.K. retail market conditions weighing earnings for E.ON and Centrica

Reuters reports that, "Between them, E.ON and Centrica have lost more than 400,000 customers in Britain so far this year."

Concerning the retail price cap, Reuters quotes E.ON CFO Marc Spieker as stating, "We will have to talk to the regulator ... Self-help measures alone won’t fix this."

E.ON said that its Customer Solutions business in the United Kingdom, "remained under considerable pressure."

"The new regulatory cap for power prices and keen competition were the primary reasons for the €90 million decline in E.ON’s earnings there," E.ON said

E.ON said that its customer numbers, "continued to develop well in Germany’s keenly competitive marketplace." Since the start of the year, E.ON has added more that 100,000 customers in Germany on a net basis.

See Reuters for the story

See EnergyChoiceMatters.com's story today for more details on Centrica's trading statement

Tags:
U.K.   E.ON   Centrica  

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