Power Firm Innogy Continues to Shed Customers In Britain

German energy group Innogy on Thursday said it was continuing to lose clients in Britain, where a price cap has increased pressure on the ‘Big Six’ energy providers, Reuters reported. Npower, Innogy’s British retail unit, lost 261,000 customers during the third quarter, bringing total customer losses to 447,000 so far this year. The division posted a nine-month adjusted operating loss of 167 million euros ($184 million). Npower’s problems will soon be an issue for German utility E.ON. E.ON acquired Innogy’s retail and networks assets as part of an asset swap with the company’s former parent RWE while Innogy’s renewable activities, along with those at E.ON, will become part of RWE under the deal. Read more