160 jobs at risk as EDF pulls out of Nottinghamshire coal plant February 7, 2019 French energy giant EDF will power down a 2GW coal-fired generating plant after half a century of service, the company said today, putting 158 jobs at risk. The Cottam power station in North Nottinghamshire will close its doors in September, after becoming economically unviable. Read more: Business groups worried as Hitachi pulls out of Welsh [...]
As competition heats up, meet the energy company taking on the Big Six by cutting consumption January 14, 2019 You know the drill: energy companies lure you in with a cheap introductory rate, and once it expires, you’ve either got to repeat the hassle of shopping around for a new deal, or you’re automatically moved onto the provider’s expensive default tariff – otherwise known as the standard variable rate (SVR). This isn’t a glitch [...]
Brexit uncertainty boosts Wincanton profits November 8, 2018 Logistics firm Wincanton reported strong results for the six months to the end of September as British companies scramble to prepare for a no-deal Brexit. The figures Wincanton’s revenue was up a marginal 0.1 per cent to £581.8m. Profit before tax rose 48 per cent to £30.1m. Cash flow was up to £33.5m from [...]
EDF told to repay £1bn tax break to France July 22, 2015 French electricity giant EDF was yesterday ordered by the EU to repay the French state almost €1.4bn (£1bn) in back taxes, in a case dating from 1997. And in a thinly veiled criticism of the French government the European Commission said Electricite de France had been given “tax breaks incompatible with EU rules on state [...]
Npower, EDF Energy, E.On UK, Scottish Power and SSE to follow British Gas price cuts July 15, 2015 Analysts forecast last night that Britain’s remaining big five energy groups will quickly follow British Gas and cut gas prices for a further 28m households. British Gas, owned by Centrica, yesterday cut gas bills by five per cent – the second reduction in six months. The cut will come into effect for its [...]
Energy suppliers defend pricing despite government criticism June 1, 2015 Energy secretary Amber Rudd has told the “big six” energy companies to cut bills for consumers, saying the firms can no longer claim they are burdened by the promise of a Labour-led price freeze. Rudd sent letters to the six suppliers – British Gas, EDF Energy, E.On UK, npower, Scottish Power and SSE – on [...]
400 jobs cut at EDF’s Hinkley nuclear power station project April 2, 2015 French power giant EDF has cut 400 contractors' jobs at the £16bn Hinkley Point C power station. In a statement, the company said because negotiations with potential investment partners have been delayed, it was not prepared to keep investing in the project – although it will continue to make preparations for the next phase of [...]
EDF becomes the last of the “big six” to cut gas prices January 27, 2015 EDF has become the last of the "big six" energy suppliers to cut gas prices. In a statement today, the company said it will cut prices by 1.3 per cent from 11 February, benefiting about a million customers. The company added that further falls in the price of wholesale gas will be passed on "as [...]
Boxing for Buhinga: City lawyers from HSBC, Credit Suisse, Taylor Wessing, EDF and Baker & McKenzie don gloves for charity match November 23, 2014 Lawyers are known for their ferocity inside the courtroom, but rarely do we get to see them bare their teeth outside. Well, thanks to Baker & McKenzie senior associate Matt Totman, now we do. Saturday night saw the Boxing for Buhinga event take place at The Brewery and with it, 16 City lawyers pulling [...]
European Commission approves EDF’s Hinkley Point nuclear plant project October 8, 2014 The European Commission has approved EDF's £16bn nuclear plant project Hinkley Point after revised plans were submitted that brought it “in line with EU state aid rules”. The body approved the plans after the UK government agreed to “significantly modify the terms of the project financing”, it announced this morning. Under the revisions, the [...]