Operating profit at Npower fell €53 million in the six months to the end of June, down 60% on the period the previous year, and parent company RWE said the UK division would finish the year with a “significant deterioration” on the previous year.
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The Forewind consortium has relinquished development rights to offshore wind projects that could total 2.4GW, saying it wants to focus on the four projects (Creyke Bank A and B, Teesside A and B) that have development consent.
Investment in offshore wind is “increasingly paying off,” Peter Terium, chief executive of RWE, said in an update on the company’s first-quarter results.
RWE NPower has been granted leave for a judicial review of Ofgem’s decision on how to change the charging structure for electricity transmission.
RWE’s coal generation fell from 9.1TWh in 2013 to 4.5TWh in 2014, largely because of the final closure of Didcot A.
The European Commission has sent a “reasoned opinion” to the European Court of Justice complaining that RWE Npower’s Aberthawe plant is breaching regulations on NOx emissions.