November 29, 2019 / 6:43 AM / 14 days ago

E.ON to restructure Npower, expects $642 million in charges

FRANKFURT, Nov 29 (Reuters) - German energy group E.ON on Friday unveiled a restructuring plan for its struggling British division, which includes Npower, adding this would incur costs of 500 million pounds ($642 million).

The plan includes closing part of Npower and additional job cuts at Npower, one of Britain’s ‘Big Six’ energy providers, which has been struggling for years due to fierce local competition and internal billing problems.

$1 = 0.7794 pounds Reporting by Christoph Steitz; editing by Thomas Seythal

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