By: Jessica Morris

I write about energy and industrials for City A.M. I'm particularly interested in geopolitics, energy policy and, of course, the ever lively oil markets.

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German utility E.on books record loss as it writes down power plants

November 11, 2015

The figures E.on reported a net loss of €7.25bn (£5.12bn) in the three months to September 30, the biggest in its 15-year history, when the company was created from the merger of Veba and Viag in 2000. The Germany headquartered company's results were sunk by a €8.3bn writedown on the value of its power plants and oil and [...]
SSE pre-tax profits jumps but outlook “challenging” amid UK energy policy and low commodity prices

November 11, 2015

The figures: SSE's adjusted profit before tax rose by 48.2 per cent to £548.8m for the six months ending 30 September. The UK's second-biggest energy supplier's total operating profit jumped 32.5 per cent to £701.9m from £529.8m during the same period a year earlier. The increase was driven by its wholesale business segment, where operating profit rose almost six-fold to [...]
Bank of England’s Open Forum: Osborne warns big bank fines aren’t a thing of the past

November 11, 2015

Chancellor George Osborne has warned the huge fines levied on some of the world's biggest banks aren't a thing of the past, and will still serve to deter bad behaviour by bankers in the future. "If anyone thinks being unethical in the financial services industry is a good way to make money, I'd suggest they take [...]
UK employment rate hits new record high for July to September as wage growth tails off

November 11, 2015

The UK's employment rate soared to a new record high in the third quarter of this year, although wage growth appears to be tailing off slightly. There were 31.21m people in work for July to September, pushing the employment rate to 73.7 per cent, the highest since comparable records began in 1971. Meanwhile, the unemployment rate fell to 5.3 per [...]
World Energy Council UK energy sustainability rating: Britain loses its top energy rating amid supply concerns

November 11, 2015

Concerns over the ability of Britain's creaking energy system to deliver future supplies has led to a downgrade of its energy sustainability rating by a respected international organisation. The UK's AAA rating was cut to AAB by the World Energy Council in its annual "trilemma index", which measures countries' ability to offer secure, affordable and sustainable energy supplies. It [...]
Co-op is the most complained about energy company per 100,000 customers between July and September

November 11, 2015

It was Co-op that had the most number of complaints per 100,000 customers between July and September, according to the Energy Ombudsman. The figures show Co-op received 135.92 complaints per 100,000 customers during this period, while Scottish Power came second with 89.2 followed by Npower with 71.39. There were 13,212 energy complaints received during this period, taking the total [...]
Oil & Gas UK’s Business Sentiment Index: Companies feel gloomy for fifth quarter in a row – but slightly less so

November 10, 2015

With oil prices remaining stuck at around $50 a barrel, it's hardly surprising that UK oil and gas companies see storm clouds ahead. Oil & Gas UK's business sentiment index posted a negative reading between July to September this year, which is the fifth consecutive quarter. However there was a silver lining, as companies said they felt a little [...]
Divergent monetary policy from the European Central Bank and the US Federal Reserve sends euro to seven-month low against the dollar

November 10, 2015

The euro fell 0.6 per cent against the dollar to $1.0682, sliding to a fresh seven-month low against a backdrop of increasingly divergent monetary policy from the European Central Bank (ECB) and US Federal Reserve. Yesterday four ECB government council members hinted a consensus is forming at the Bank to take one of its benchmark interest rates deeper into negative [...]
National Grid moves to assure over power crunch this winter

November 10, 2015

National Grid has sought to assure British households that it will be able to keep the lights on this winter. The company's chief executive Steven Holliday said that historically, between 2003-2008, it issued around seven alerts a year. "We have got used to a lower amount, but if we went back to those levels it is not necessarily something [...]
London’s latest park is inside a Victorian gasholder by Regent’s Canal in King’s Cross

November 10, 2015

London's latest public park has been built within the frame of an old Victorian gasholder in King's Cross. The gasholder park, a circular lawn which overlooks Regent’s Canal, was opened to the public yesterday. It has a polished stainless steel canopy added by London-based Bell Phillips Architects, as well as new planting designed by Dan Pearson studio. The Grade II [...]

Monzo in talks over £10bn sale to Nubank in blow to IPO hopes

AI and politics will never destroy the beauty of supporting clubs like Bournemouth

Two countries, one holiday: Turkey’s glitzy Bodrum and Greece’s unbuttoned Kos

By: Jessica Morris

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