Energy firm npower will announce this week it is to cut around 2,500 jobs, according to reports.
The owner of energy provider npower has revealed it will slump into the red after taking a 2.1 billion euro (£1.6 billion) hit on its UK and German power stations.
Ofgem has fined Npower £26million over alleged billing and complaint handling failings.
The boss of Big Six energy firm Npower has left his post after German owner RWE took action following “unexpectedly negative” half-year results.
RWE will replace the head of npower and the British supplier's finance chief, two people familiar with the matter told Reuters, following long-standing billing problems and a loss of clients. Paul Massara, npower's chief executive since January 2013, will be replaced by npower Chief Operating Officer Paul Coffey, who joined from the German utility company's renewables division Innogy earlier this year, the people said. Npower Chief Financial Officer Jens Madrian will also step down from his post, the people said.
Big Six energy provider Npower said it had lost 300,000 customer accounts over the last year as a result of ongoing problems with its billing system as it reported profits down by two-thirds in a “very tough” first half.