E.ON is increasing the cost of its standard variable tariff by an average of 4.8% or £55 for customers taking both fuels from August 16 due to the “significant rise in the cost of wholesale energy”, it has announced. E.ON last increased its standard unit prices in April last year, but said it had seen increases of 22% for wholesale energy costs since March this year. “However, as was seen in relation to the increases in the regulated prepayment cap in April, a number of costs have risen quite sharply and in particular we’ve experienced a hike in the price we have to pay for the energy our customers need, partly driven by the Beast from the East and extreme weather conditions experienced earlier this year. E.ON said it had contacted around 1.8 million standard variable tariff customers to advice them that cheaper tariffs could be available, and had seen a 21% fall in the number of these accounts over the last 18 months.
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Thursday, June 21
Date: 21 Jun 18 Time: 05:47
Tuesday, June 19
Date: 19 Jun 18 Time: 10:13
E.ON to raise cost of standard variable tariff by average 4.8%
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Date: 19 Jun 18 Time: 09:59
E.ON (DAXX:EOAN) social chatter is higher than usual
Friday, June 15
Date: 15 Jun 18 Time: 14:33
Fortum wins EU, Russia antitrust approvals for Uniper stake buy
Money. Fortum wins EU, Russia antitrust approvals for Uniper stake buy. FILE PHOTO: A logo of German energy utility company Uniper SE is pictured in the company's headquarter in Duesseldorf, Germany, March 8, 2018. (Reuters) - EU antitrust regulators cleared on Friday Finnish utility Fortum's (FORTUM.HE) bid to buy a 46.65 percent stake in German energy group Uniper (UN01.DE) from E.ON (EONGn.DE), saying the deal would not hurt competition. In a separate statement, Fortum said it had also received merger clearance from the Russian Federal Antimonopoly Service (FAS) to acquire up to 50 percent of Uniper, in line with a previous decision disclosed at the end of April. Fortum said the FAS decision would prohibit it from making unjustified price increases on the wholesale electricity market, adding that would not have a significant impact on its operations.
Wednesday, June 13
Date: 13 Jun 18 Time: 11:43
E.ON (DAXX:EOAN) social chatter is higher than usual
Monday, June 11
Date: 11 Jun 18 Time: 15:47
Exclusive - Fortum set to gain EU antitrust approval for Uniper deal - sources
Exclusive - Fortum set to gain EU antitrust approval for Uniper deal - sources. BRUSSELS/FRANKFURT (Reuters) - Finnish utility Fortum <FORTUM.HE> is set to gain unconditional EU approval to acquire a 46.65 percent stake in German energy group Uniper <UN01.DE> from E.ON <EONGn.DE>, three people familiar with the matter said on Monday. State-controlled Fortum's bid has run into opposition from Uniper, which said that the combination would make little sense given its heavy exposure to gas and coal-fired power plants while Fortum's focus is on clean technologies. Approval by the EU would mark a major step towards the deal's completion, which also still requires regulatory clearance from Russia, where Uniper operates several assets through its subsidiary Unipro <UPRO.MM>, to go through.
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Friday, June 08
Date: 08 Jun 18 Time: 16:09
Uniper denies report about Datteln 4 writedown
FRANKFURT (Reuters) - Uniper <UN01.DE> on Friday denied a media report that had said the energy group was delaying writedowns on its troubled Datteln 4 power plant to extract a higher takeover price from Finland's Fortum <FORTUM.HE>. German weekly magazine Der Spiegel had said that insiders suspected Uniper was pushing back at least 100 million euros (87.9 million pounds) worth of impairments on the assets. Fortum, which is controlled by the Finnish government, last year agreed to buy a 46.65 percent stake in Uniper from the company's former parent E.ON <EONGn.DE> for 3.8 billion euros. Uniper last month disclosed a 270 million euro impairment on its Datteln 4 hard-coal power plant, saying it would have to replace the station's damaged boiler walls and delaying its commissioning to summer 2020. Datteln 4, which was originally scheduled to open in 2011, has been a major headache for Uniper, suffering several delays and swallowing 1.2 billion euros in investment so far. What to read next.
Wednesday, June 06
Date: 06 Jun 18 Time: 16:05
RPT-UPDATE 2-Germany's E.ON puts fate of Uniper management in Fortum's hands
RPT-UPDATE 2-Germany's E.ON puts fate of Uniper management in Fortum's hands. ESSEN, Germany, June 6 (Reuters) - A vote that could have triggered a probe into whether managers of German energy company Uniper tried to block the sale of a 47 percent stake to Finland's Fortum was postponed on Wednesday in line with a proposal by Uniper's biggest shareholder E.ON . Cornwall (Luxembourg) S.a.r.l., a fund backed by U.S. activist investor Elliott which filed the motion to appoint a special auditor, agreed to the delay, one of its representatives told Uniper's annual general meeting, where shareholders had been due to vote on the motion. At the time, Fortum alleged that Uniper - an energy generation and trading company spun off from E.ON in 2016 - had worked to block the transaction in Russia, where Uniper operates power plants and water-testing through its local unit Unipro .
Date: 06 Jun 18 Time: 10:24
E.ON seeks to delay key votes at Uniper general meeting
Date: 06 Jun 18 Time: 08:28
Uniper CEO insists on independence as Fortum to take stake
Uniper CEO insists on independence as Fortum to take stake. (Reuters) - Uniper (UN01.DE) boss Klaus Schaefer will try to keep the energy group independent, he told shareholders on Wednesday, weeks before rival Fortum (FORTUM.HE) is expected to secure regulatory approval to become its largest shareholder. Fortum, which agreed to buy the 47 percent stake in Uniper held by former parent E.ON (EONGn.DE), still needs approval from Russian and European authorities for the planned 3.8 billion euro ($4.47 billion) transaction, which Uniper management has opposed. Schaefer, who faces fresh opposition from Elliott after the activist fund built a stake of more than 8 percent, still said that Uniper would work to create a constructive working relationship between the two companies. "But I'd like to state clearly that this wouldn't in any way alter our intention to remain an independent company. For the simple reason that it's the best foreseeable course for your company," Schaefer said.
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Key Stats & Ratios
|Quaterly Earnings Growth||40.10%|
|Quaterly Revenue Growth||-10.90%|
|Revenue per share||17.24|