Scottish Power has announced it is to cut its standard domestic gas prices by an average of 5.4% from mid-March, the third supplier to announce such a drop in two weeks.
Premier Oil's shares more than doubled in value after trading resumed this morning following a suspension caused by the acquisition of E.ON's North Sea assets.
Premier Oil’s shares will resume trading on the London Stock Exchange after reaching a deal with E.ON for its North Sea assets.
Energy giant E.ON is to cut its standard gas price by an average of 5.1% and has launched what it claims is the cheapest fixed tariff on the market.
E.ON and partner Haci Omer Sabanci are said to be in talks with Chinese investors to sell a stake in Turkey’s biggest private energy company to improve its debt and equity balance.
Premier Oil shares remained suspended yesterday amid uncertainty over the status of the firm’s latest North Sea investment. The stock was worth 19p per share before Wednesday’s request from London-based Premier to halt trading, due to its £83million-plus acquisition of assets from Germany’s E.ON.
Premier Oil’s shares today entered day two of being suspended on the London Stock Exchange.
Norwegian Energy Company ASA (Noreco) today confirmed it was forced to exit the North Sea’s Huntington field, after its licence partners served up a final notice.
A power station is to stop generating electricity and will close after 46 years. E.ON said the Ironbridge Power Station in Shropshire will reach its 20,000 hours limit of generation under an EU directive aimed at lowering emissions of certain pollutants. Former employee Mike Smith has been invited back to press the button to end generation on Friday and mark the closure of the plant, which used to be powered by coal but was converted to biomass in 2012.
E.ON has been told to pay £7 million to the Carbon Trust for its “unacceptable” failure to supply enough advanced meters to business customers, regulator Ofgem has revealed.
E.ON has completed a wildcat well near the Skarv field and confirmed it is a dry hole.
EON SE, Germany’s largest utility, said first-half profit fell 21 percent on lower wholesale power prices.
Italian energy group ERG is to buy German utility E.ON's Italian hydroelectric power plants for about 950 million euros ($1 billion), expanding its renewable portfolio which mostly comprises windfarms. E.ON's Terni Hydroelectric Complex, which has 527 megawatts (MW) of generating capacity and produces about 1.4 terawatt hours of electricity a year, was put up for sale in late 2013 along with other assets in the country. ERG currently operates windfarms in Europe with a total capacity of 1.38 gigawatts, including 1.1 gigawatts in Italy, as well as a gas-fired thermal plant in Sicily with a capacity of 480 MW.
German utility E.ON is set put its North Sea and Algerian oil and gas assets up for sale, hoping to raise an estimated £1.25billion as it restructures its business. E.ON, which operates a number of North Sea fields including Huntington, also has production interests in the Elgin, Franklin, Glenelg and West Franklin fields.