Pay freeze at npower 'to maintain cheap electricity prices'
Published on : 03/06/2009
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One of the biggest energy companies in the UK is freezing its workers' pay in an attempt to keep its operating costs down and maintain its competitive energy prices for consumers.
According to a letter from npower's UK chief executive Andrew Duff, which was intercepted by the Sun, the company is facing a particularly challenging year.
He said: "The credit crunch is having a severe impact on all industry sectors and we are operating in a fiercely competitive environment.
"In order to maintain shareholder support for our very large growth investment programme - and to look after the interests of our customers - we need to try and maintain acceptable returns."
The company will therefore freeze pay for many of its 12,500 staff.
The firm recently released its sixth full corporate responsibility report, which explains how the firm is delivering affordable, reliable energy to its customers despite the economic downturn.
