Centrica Drops After Conservatives Pledge Energy Price Cap
- Energy regulator would review tariffs every six months
- The pledge will affect 70 percent of domestic customers
This article is for subscribers only.
Centrica Plc and SSE Plc declined after the U.K. Conservative Party said it would promise to cap household energy bills if Theresa May wins the June 8 election, accusing the country’s largest suppliers of “unfair” pricing.
Under the plan, the standard tariffs of the “Big Six” suppliers -- Centrica Plc, Electricite de France SA, E.ON SE, Innogy SE’s Npower, Scottish Power and SSE Plc -- will have to be under a limit that will be reviewed by the energy regulator Ofgem every six months. According the the Tories, this will cover 70 percent of those companies’ customers.