Energy giant could be auctioned

Gas and electricity giant Npower could be sold for up to £5 billion after its German parent company RWE put its future under review, it has been reported.

RWE has hired investment bankers at Goldman Sachs to consider Npower’s future, according to The Sunday Times, and the options on the table include putting the company up for auction.

Npower, which supplies energy to 6.8 million homes, was bought by RWE in 2002 for £3.1 billion. The company, which employs 11,000 staff and generates 8% of the UK’s electricity, last year made profits of £245 million on sales of £7 billion.

RWE, the second largest power company in Germany, is understood to be mulling a sale because it wants to pay down some of its large debt mountain.

Read more: http://www.expressandstar.com/business/city-news/2011/07/03/energy-giant-could-be-auctioned/#ixzz1R5E9BS3b

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Britain has announced plans to build at least 8 new nuclear power plants by 2025 as part of its long-term energy policies, according to media reports.

However, nuclear power was one of the issues that divided Conservatives and Liberal Democrats formed a coalition after the May 2010 general elections.

The announcement comes three months after a powerful earthquake and its following tsunami triggered a radioactive disaster at Japan's Fukushima Dai-ichi nuclear plant.

The government is planning to construct the new suite of reactors to maintain electricity supplies and cut greenhouse gas emissions after closing down an old generation of power stations, British media reported.

"Around a quarter of the United Kingdom's generating capacity is due to close by the end of this decade. We need to replace this with secure, low carbon, affordable energy," said Energy Minister Charles Hendry. 

http://www.presstv.com/detail/186281.html

British Gas Fined £1m For Misreporting Data

British Gas Fined £1m For Misreporting Data

British Gas has been given a £1m penalty by energy regulator Ofgem for misreporting the amount of renewable electricity it supplied to its business customers over a seven-year period.

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Updated: DECC warned it could 'blow' £11.3bn smart meter budget

Updated: DECC warned it could 'blow' £11.3bn smart meter budget

By Jessica Shankleman The government will be urged today to revise plans for the imminent national rollout of 53 million smart meters, as the National Audit Office warns that the cost of the scheme could spiral beyond the original £11.3bn estimate. ...
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UK partners downplay impact of Google's decision to axe PowerMeter

The two UK partners of Google's recently axed PowerMeter online smart meter service have today insisted the move will have negligible impact on their customers and operations, stressing that their own smart meter services will continue.

http://www.businessgreen.com/bg/news/2082703/uk-partners-downplay-impact-googles-decision-axe-powermeter

Big Six energy firms made very different profits last year, Ofgem ...

Big Six energy firms made very different profits last year, Ofgem ...

Nick Campbell of energy analysts Inenco said: "This is at last providing some insight into revenues created by the different arms of the major utilities."

Smart meter savings 'uncertain' says audit office

Uncertainty surrounds the extent to which householders will change their behaviour when new smart meters are introduced, a report has concluded.

By 2020, every home in Britain will be fitted with a smart meter - a device that shows exactly how much gas and electricity is being used.

The Department of Energy estimates that the meters will help the average customer save £23 a year.

But the National Audit Office said current evidence left this in doubt.

http://www.bbc.co.uk/news/business-13966532