Npower double their profits as we reel from their latest price rise

11 November 2011

Bitterwallet - new npower logo If you’re a Npower customer, you’ll no doubt be delighted that the company has doubled its profits in the first nine months of the year. You might not be able to afford to raise a glass and toast them, thanks to their recent eye-watering gas and electricity price rises, but surely you can appreciate their skill and guile when it comes to achieving an astonishing return for their shareholders.

Even though you, the average consumer, is cutting down on your energy consumption (hardly surprising, what with the price rises), Npower have still mananged to make a profit of £234 million between January and September – compared to £95 million in the same period in 2010. Wowsers!

Npower are patting themselves on the back and putting the increase in profits down to them being so clever when it comes to buying their wholesale gas and electricity. Hold on – does that mean that they’re saving money when it comes to buying the stuff yet still ramping up the prices when it comes to selling it on to us? Surely not – there must be a catch.

Okay, we’ve had a think and there doesn’t seem to be a catch. But Npower boss Volker Beckers has spoken and he doth sayeth thus: “It is only through sustaining this kind of company performance that npower can continue to support the delivery of billions of pounds worth of new investment in UK infrastructure, creating thousands of highly skilled jobs across the UK, and providing a foundation for the recovery of the British economy.” Ah, the infrastucture. Nope, still baffled.

Once again, some numbers for you…

Price rises by Npower last month: Gas – 15.7%. Electricity – 7.2%.

Npower profit between January and September 2011: £234 million.

If any of you can figure out how that actually works, please let us know.

TOPICS:   High Street News


  • Skymarshall
    It's simple. They've been selling on our un-used arms and legs that we've been paying with.
  • Fifi
    Isnt the boss at Npower called Robin Bstard?
  • oliverreed
    @Fifi I'd just call him 'cunt'.
  • Simon
    And we are powerless to fight back, as all the major suppliers are operating as a cartel
  • Wonky H.
    As a shareholder in the major suppliers I think it's brilliant, give the board bonuses, after all isn't it the shareholders they have to make all these profits for?
  • Skint
    Cunts. That is all.
  • Jay
    Due to Government targets the UK energy industry (i.e. "the big 6") are required to invest £200bn by 2015 to improve UK infrastructure and reduce the negative impacts of power generation. This, coupled with fluctuating and unpredictable wholesale energy prices has led to the recent price rises experienced by customers of ALL UK energy companies. As consumers we are not yet ready to accept that the demand for energy in UK is too high. We should all individually be looking at how we can reduce our energy usage and change our behaviours to both save money on bills and reduce the demand on energy companies to continue to generate more and more.
  • Robin
    @Jay - Totally agree with your last paragraph. Unfortunately we are all too selfish to want to give up even the smallest luxury or put ourselves through the slightest inconvenience. You missed part of the point though - their profits (after the investment they are forced to make) are higher while they charge people extra, people who can't necessarily afford it. Also fluctuations in wholesale price should lead, at worse, to fluctuations in retail price - not the steady rise we've seen.
  • klingelton
    Cartel. That is all.
  • Garry C.
    Shortly I plan to kill myself. I am at the end of my tehter and can not afford the court costs and unexpected bills from 2 years ago which have never been explained. I have written and verbally told the chief executive this as well as Ofgem and all the other quangos who have no teeth. I am ignored so I am shipping out. No one is listening so there is no point in being here. bye

What do you think?

Connect with Facebook, Twitter, or just enter your email to sign in and comment.

Your comment