POWER Giant E.ON Yesterday Revealed
March 7, 2008
POWER giant E.ON yesterday revealed a 29 per cent surge in profits for 2007 after the German firm cashed in on selling expensive gas to British families.
The parent company made a staggering Pounds 5.53billion after it benefited from spiralling gas and electricity prices.
The news came amid claims that European power giants have rationed supplies of gas to the UK in order to boost profits.
E.on, which was formerly called Powergen, has about 120,000 Scots customers and some 8million across the UK.
Its UK retail business, which recently hiked gas prices by 15 per cent and electricity by 9.7 per cent, made a profit of Pounds 509million..
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