E.On UK supply profits fall but earnings from generation rise
ENERGY giant E.On yesterday said revenue and profit for its UK supply arm fell in the first quarter of the year, due to milder weather.
Profit from the big six supplier division slipped to £177m from £213m in 2013, while turnover dropped to £2.34bn from £2.57bn.
But profit from generation and upstream activities in the UK rose by over one third to £133m, although revenue dropped to £486m from £538m the previous year.
“Difficult market conditions continue to affect the profitability of our gas power stations, and our entire fossil fleet continues to face rising costs due to factors including the carbon price floor,” said E.On UK chief Tony Cocker.