Npower fined £26 Million

jonbeeza

jonbeeza

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If Npower can afford to pay a fine of £26 Million without going bust, what sort of crazy profits are they making?


http://www.bbc.co.uk/news/business-35129788

Looks like some of their customers will get some of it, reports say customers will be contacted about a pay out.
 
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Going by their billing, probably plenty.

I do wonder why it is these energy companies fail to grasp the concept of billing. Take a reading, deduct previous reading and bill for the difference. SIMPLES.
 
ecoleman said:
Going by their billing, probably plenty.

I do wonder why it is these energy companies fail to grasp the concept of billing. Take a reading, deduct previous reading and bill for the difference. SIMPLES.
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We give them a regular reading submitted electronically, they then deduct the money by DD. We have no idea if the price is correct, just have to take their word for it :(
 
jonbeeza said:
We give them a regular reading submitted electronically, they then deduct the money by DD. We have no idea if the price is correct, just have to take their word for it :(
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You could be heading for disaster if they are not taking some of the readings themselves because ultimately they will never accept your readings as accurate. My club has ended up with a £10000 bill which was not reflected in several year's worth of bills. The bills all showed actual readings (not submitted by us) but npower claims they are estimated readings despite that not being stated. We cannot see any way that that amount of electricity could have been used but that is impossible to prove.
Make sure npower reads the meter and record the fact and the readings.
 
sphexx said:
You could be heading for disaster if they are not taking some of the readings themselves because ultimately they will never accept your readings as accurate. My club has ended up with a £10000 bill which was not reflected in several year's worth of bills. The bills all showed actual readings (not submitted by us) but npower claims they are estimated readings despite that not being stated. We cannot see any way that that amount of electricity could have been used but that is impossible to prove.
Make sure npower reads the meter and record the fact and the readings.
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Looks like I better scrutinise those old bills then ;)
 
sphexx said:
You could be heading for disaster if they are not taking some of the readings themselves because ultimately they will never accept your readings as accurate. My club has ended up with a £10000 bill which was not reflected in several year's worth of bills. The bills all showed actual readings (not submitted by us) but npower claims they are estimated readings despite that not being stated. We cannot see any way that that amount of electricity could have been used but that is impossible to prove.
Make sure npower reads the meter and record the fact and the readings.
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Surely when they do in fact read the meter themselves the reading will be the proof.
 
nilagin said:
Surely when they do in fact read the meter themselves the reading will be the proof.
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Problem is proving they did in fact read it themselves and that the readings on the bills are the readings they took. I know it sounds mad but so do the stories about npower bills that have been aired on TV! So far as I can tell npower or their software is incapable of calculating bills accurately and consistently. In the examples on TV people have had revised bills that go up and down like yoyos varying by thousands of pounds. In our case it was complicated by the fact they replaced the meter at one point.
 
Wasn't it also the case not that many years, that folk were being billed & over charged, when they had the older meters. (Cubic cm - Cubic inch)
 
OldCarlos said:
Wasn't it also the case not that many years, that folk were being billed & over charged, when they had the older meters. (Cubic cm - Cubic inch)
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Nothing would surprise me.
 
BBR said:
Profits last year were about 109m, so about 24% of profit.
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Those were only half-year profits, and since it isn't the TopCo in the group, that'll be after intra group interest to RWE.
 
BBR said:
AKA Tax avoidance?
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You might think that, I couldn't possibly comment. ;)

Not all interest payments are tax avoidance - debt is a legitimate way of financing a subsidiary provided it is not excessive compared to the level of equity. I don't have the exact figures for RWE/nPower to hand, so wouldn't want to give an opinion either way.
 
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