Theresa May’s U.K. Energy Price Cap Signals Wafer Thin Margins
- Utility shares plunge as industry enters political spotlight
- Both of U.K.’s main parties seeking overhaul of energy rules
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Britain’s utilities are the new political punching bag after Theresa May proposed a price cap to insulate customers from higher prices.
Centrica Plc plunged to a 14-year low after the prime minister said she wants to “bring an end to rip-off energy prices once and for all.” Earnings may fall at least 10 percent at three of the nation’s Big Six utilities, according to a note from RBC Europe Ltd.