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.