E.ON to restructure Npower, expects $642 million in charges

FRANKFURT (Reuters) – German energy group E.ON (DE:) on Friday unveiled a restructuring plan for its struggling British division, which includes Npower, adding this would incur costs of 500 million pounds ($642 million).

The plan includes closing part of Npower and additional job cuts at Npower, one of Britain’s ‘Big Six’ energy providers, which has been struggling for years due to fierce local competition and internal billing problems.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.