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Npower says impact of billing problems to continue to 2016 | |
(about 3 hours later) | |
Energy giant Npower says problems with its billing system have again dented profits and the financial impact will continue until the end of 2016. | |
Npower also said it had lost customers and had had to offer more favourable terms in an attempt to retain those whose contracts had expired. | Npower also said it had lost customers and had had to offer more favourable terms in an attempt to retain those whose contracts had expired. |
Its parent company, Germany's RWE, said Npower's half-year profits were down 60% to €53m (£38m). | Its parent company, Germany's RWE, said Npower's half-year profits were down 60% to €53m (£38m). |
A switch in its billing system led to a surge in errors in recent years. | A switch in its billing system led to a surge in errors in recent years. |
Problems included some customers receiving multiple bills and others receiving none. | Problems included some customers receiving multiple bills and others receiving none. |
Last year, Npower said that it was getting on top of these problems, which helped to dent last year's profits by 38%. | Last year, Npower said that it was getting on top of these problems, which helped to dent last year's profits by 38%. |
But last month, the Energy Ombudsman ordered Npower to give free energy to those customers who had waited too long for the company to deal with their complaints. | But last month, the Energy Ombudsman ordered Npower to give free energy to those customers who had waited too long for the company to deal with their complaints. |
Among the major energy firms, Npower received the most complaints in 2014, Ofgem figures showed. | Among the major energy firms, Npower received the most complaints in 2014, Ofgem figures showed. |
It said it had been struggling to retain customers: "We were often only able to retain residential customers with expired contracts by offering them new contracts with more favourable conditions." | It said it had been struggling to retain customers: "We were often only able to retain residential customers with expired contracts by offering them new contracts with more favourable conditions." |
The UK supply unit accounts for 6% of RWE's business. | The UK supply unit accounts for 6% of RWE's business. |
RWE reported first half operating profits down 11% to €2.03bn, and it warned full-year UK operating profits would be below last year's €227m. | RWE reported first half operating profits down 11% to €2.03bn, and it warned full-year UK operating profits would be below last year's €227m. |
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