E.ON, one of the big six energy companies, reveals shares fall

Fix energy prices until 30th September 2017

Looking to switch your business energy supplier? Click here

Use our OFGEM accredited comparison tool to compare the whole market today.

Yellow flame

Following a fall in profits, shares in E.ON - one of the big six energy companies - have dropped by 1.4 per cent, according to an article published by BBC News.

Net income during the first quarter fell by 24 per cent - to £1.4 billion. The fall has been attributed to a lower demand for gas and electricity on the continent.

Despite the fall in income, sales rose by 28 per cent - to €36 billion.

E.ON also revealed that it expected its pre-tax profits to be slightly higher this year, than during 2011. It also stated that it was working to reduce the amount it pays gas suppliers for energy.

Chief financial officer for the firm, Marcus Schenck, stated: "We're making good progress. But we still need to be resolute about meeting our current challenges and implementing the changes we've initiated."

Meanwhile, E.ON has also revealed that the demand for gas in Europe is at the same level as it was back in 2001, with demand for power at the same level as it was during 2004.

Latest gas and electricity news brought to you by UK Power - the energy price comparison site.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.