Npower’s continued inability to contribute to the coffers of parent RWE looks likely to move them up the cost saving and asset disposal list.
As RWE struggle to come to grips with the phase-out of nuclear energy in 2022, net debt of over £24 billion, a less than anticipated return on a recent share sale, loss-making long-term gas deals and its failure to setup a joint venture with Gazprom for the takeover of all European generation including the UK, it doesn’t bode well.
Chris Huhne, UK Energy Secretary, has recently dismissed reports that the UK has the highest energy costs across Europe, whilst acknowledging that prices are rising both in the short and long term. He went to advise both domestic and commercial/ business customers to search the market to find the very best prices available. Given the lack of competition between many suppliers at the moment, Torse strongly agrees with Mr Huhne’s idea to ensure your business is getting the best value.
Chris Huhne, UK Energy Secretary, has recently taken some time for a Q&A session in today’s Financial Times. When we at Torse found out about this arrangement, we jumped at the chance to ask the Coalition Governments energy expert a question or two, here’s how it went: