Millions wiped off UK energy firms as Davey moots Centrica breaksupra shoes firms yesterday, after energy secretary Ed Davey wrote to regulators to ask them to scrutinise gas supply margins, and suggested Centrica could be broken up. Investors knocked £275m off British Gas-owner Centrica, while FTSE 100 peer SSE lost close to £60m. Around £10bn has already been wiped of the value of the firms supra footwear since Labour reignited the row over energy bills with a promise to cap bills until 2017 if elected next year. Chris Weston, managing director at British Gas, hit back, claiming: “Centrica does more than any other organisation to secure gas and power for British customers, with commitments totalling more than £60bn, and we can only shoulder responsibilities on this scale if we are a profitable business.” Davey – due to lay out his stance on UK energy policy in a speech at the IPPR on Thursday – said regulators should consider breaking up firms “found to have monopoly power to the Supra Men Shoes detriment of the consumer”.
News for Monday 10 February, 2014