British Prime Minister Theresa May pledged on Tuesday to cap household energy prices if she is re-elected on June 8, sending stocks tumbling with the biggest market intervention since the sector was privatised almost 30 years ago. She said on Tuesday a move to cap energy standard variable tariffs would help about 17 million families. "Like millions of working families, I am fed up with rip-off energy prices," she wrote in the Sun newspaper, the country's biggest selling title. FREE MARKETSThe industry has argued that a price cap would wipe out competition and damage investment. For Centrica and SSE, the two most exposed to Britain, a price cap could limit their ability to increase dividends.

Source: The Star May 09, 2017 17:48 UTC