FRANKFURT (Reuters) – E.ON confirmed it has no plans to pull out of the British energy retail market, its chief executive was quoted as saying, a day after rival Innogy cut its operating profit outlook due to ongoing weakness there.
“We are staying in the British retail business and want to grow there,” Johannes Teyssen told WirtschaftsWoche in an interview published on Thursday. “Particularly in markets like these you have to have a certain willingness to fight it out, and that means you have to get through troughs.”
E.ON said last month that it lost about 200,000 customers in the competitive British retail market so far this year, but added it currently was not examining any strategic options for the business.
(Reporting by Christoph Steitz; Editing by Maria Sheahan)