Thursday, 30 September 2010

U.K. Utilities Earn on Power Users, Lose on Gas

U.K. utilities will make a profit on electricity clients and lost money
supplying gas, according to NERA Economic Consulting. The overall profit for the year starting Aug. 25 on each electricity user
will be 31 pounds ($49), NERA said today in e- mailed report written on
behalf of Energy-UK, which represents energy suppliers. The annual losses
will be 32 pounds for each gas customer and 31 pounds for customers using
both fuels. The figures are lower than last quarter, NERA said. "I find it hard to believe that net margins are negative given recent
results on residential supply divisions," David Hunter, international
business manager at McKinnon & Clarke, an energy
broker based in Fife, Scotland,
said by telephone today. In a separate report, U.K. energy regulator Ofgem lowered its estimates for
utility profits for customers using both electricity and gas. The quarterly
report on retail markets was published on its website today.

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