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RWE npower (retail) H1 2016 Results – Media Update

Update

Operating Result

FY 2014
£M

FY 2015
£M

H1 2015
£M

H1 2016
£M

Change
£m

 

£183

-£99

£38

£67

£29

 

Revenues

FY 2014
£M

FY 2015
£M

H1 2015
£M

H1 2016
£M

Change
£m

 

£7,866

£7,025

£3,824

£3,229

-£595

 

Customer Accounts

FY 2014

FY 2015

H1 2015

H1 2016

Change

Domestic
SME
Industrial & Commercial

5.13m
0.21m
0.21m

4.78m
0.20m
0.23m

5.03m
0.20m
0.23m

4.68m
0.19m
0.23m

-0.35m
-0.01m
0.00m

 

Customer Service

FY 2014

FY 2015

H1 2015

H1 2016

Change

Incoming Complaints*

1,481,054

695,639

453,423

175,159

-278,264

Late Bills**

N/A

95,600

97,338

65,701

-31,637

 

Paul Coffey, CEO npower commented:

“Progress on rebuilding a strong foundation for our business continues unabated. We are starting to serve our customers better with much fewer  customer complaints and much simpler processes.  The recovery plan announced in March is beginning to bear fruit and we are delivering a solid performance on customer acquisition and retention versus our competitors for the first half of this year.

“There is much more to do but these results are testament to the drive and focus of our people who are playing their part in building a business for the future; a business capable of realising the benefits of digital service and driving better customer engagement.

 

“Late last year we agreed a set of stringent customer service targets for our Domestic business with OFGEM to be delivered by the end of June. I’m very pleased to report that a positive auditor’s report was submitted covering all of the targets we were set. However this is just a start. I can assure our customers and employees that we are not complacent and that we are committed to further improvements.”

 (ENDS)

For further information please contact the npower press office on 0845 070 2807

* Total number of complaints received
**Total outstanding at period end

Legal Disclaimer:

  1. The information contained herein is not for publication or general distribution in or into the United States of America, Canada, Japan or Australia.

     

  2. This document does not constitute an offer to sell or a solicitation of an offer to buy any securities.

 

This document and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state of the United States, and may not be offered, sold or otherwise transferred in the United States absent registration or pursuant to an available exemption from registration under the Securities Act. Neither the Company nor one of its shareholders intends to register any securities referred to herein in the United States.

 

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This document does not constitute an offer document or an offer of securities to the public in the U.K. to which section 85 of the Financial Services and Markets Act 2000 of the U.K. applies and should not be considered as a recommendation that any person should subscribe for or purchase any securities as part of the Offer. This document is being communicated only to (i) persons who are outside the U.K.; (ii) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (iii) high net worth companies, unincorporated associations and other bodies who fall within article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant Persons"). Any person who is not a Relevant Person must not act or rely on this communication or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This document should not be published, reproduced, distributed or otherwise made available, in whole or in part, to any other person without the prior consent of the company.