Warmer winter in the UK means E.ON profits are down

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

Big six energy supplier E.ON has seen profits fall by a third after a warmer start to the year resulted in lower demand for domestic gas and electricity.

Its UK profits feel from £273 million to £188 million during the first six months of this year.

The German-owned energy company, which supplied electricity and gas to 4.8 million British homes in the UK during 2013, has suggested that the difference in weather conditions between this year and last year (2013) could be behind the significantly lower profit margin recorded so far in 2014.

In 2013, the UK was hit by the big freeze and a delayed summer, resulting in an increased use of energy in UK households. However, during the first six months of this year, the weather has been considerably milder, meaning homeowners have not needed to switch their heating on.

E.ON's UK chief executive, Tony Cocker, commented following the release the financial results. He said: "Although parts of the UK faced widespread storms, the first six months were actually considerably warmer in comparison to the same period in 2013. This has meant customers have used less energy."

The energy supplier's drop in profit margin is not limited to just to its UK arm. The E.ON group has similarly reported a fall in profits – down 12 per cent compared to last year's results.

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.