E.ON takes on new energy customers as smaller rivals collapse [Reuters]
E.ON SE S/ADR (EONGY)
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Source: Reuters
who ended up without a provider after record prices forced several smaller rivals to collapse, its CEO said. FILE PHOTO: General view of the headquarters of E.ON Climate and Renewables in Essen, western Germany March 9, 2016. REUTERS/Ina Fassbender While this is just a tiny share given the group's 50 million customer base in Europe, it indicates how the current price spikes, caused by a mix of growing demand and higher fossil-fuel costs, have become a headache for energy retailers. “We have taken over several hundreds of thousands of customers in Britain, Germany and the Czech Republic,” Chief Executive Leonhard Birnbaum told Reuters. “This is placing a great burden on us currently.” Birnbaum said the unexpected inflow of customers was a problem because the group needed to procure energy for them at current market prices, which have eased in recent days but are still up nearly fourfold in some cases from last year. In Britain, where E.ON is the second-biggest retailer after
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