Economic performance

From 2002 to 2003, turnover and EBIT (earnings before interest and tax) increased by 64% and 57% respectively. The principal reason for this was the acquisition of the TXU retail business, which more than doubled the size of Powergen's retail business. The integration of this business as well as the rebranding to Powergen, which was launched at the end of June, are well advanced.

Electricity production by type

Acquisition of TXU and changes in the relative prices of gas and coal resulted in an increase in coal generation in absolute terms and as a proportion of the total. Type is defined by the main fuel source of the power station. Power stations may use mixed fuels.