NPower Up For Sale
The Scotsman reports that the UK energy retailer, Npower, currently owned by Germany’s RWE, is likely to be put up for sale. The German company has hired Goldman Sachs to consider options, which may include an auction. RWE is thought to want to raise money in order to reduce debts, or possibly to finance investment in new nuclear plants. The paper cites Spain’s Iberdrola, which already owns another retail company, Scottish Power, as a likely bidder. This may trigger further consolidation in the rest of the UK energy retail sector, which has for some time been accused of being overly concentrated.
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