A decision by the U.K. energy regulator to investigate the utility industry threatens to delay investment in power generation in the next four years, adding to the risk of blackouts around the time of the next election.
SSE Plc will freeze power and gas prices, legally split its retail and wholesale units, and sell assets as the U.K.’s second-largest energy supplier moves to head off government action against the “Big Six” utilities.
U.K. stocks fell, following their first weekly gain in a month, as world leaders meet to discuss the situation in Ukraine, and data showed that U.S. manufacturing expanded at a slower-than-expected pace.
European stocks fell, after posting their biggest weekly advance in more than a month, as world leaders pledged further measures against Russia, and manufacturing gauges slipped in China, Germany and the U.S.
U.K. Chancellor of the Exchequer George Osborne froze a tax on carbon emissions from electricity generation starting in April 2016 as part of a 7 billion-pound ($12 billion) plan to cut consumer energy bills.