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U.K. Signals Plan to Tighten Energy Price Rules in Retail Market

  • Utility shares drop on risk of government intervention
  • CMA proposals may not go far enough for new government
Electricity pylons stand on the horizon close to Uniper SE's coal-fired power station in Ratcliffe-on-Soar, U.K., on Tuesday, Sept. 13, 2016
Photographer: Chris Ratcliffe/Bloomberg

The U.K. will announce changes to its retail energy markets after Prime Minister Theresa May and Secretary of State for Energy Greg Clark last week signaled dissatisfaction with the current structure of consumer tariffs.

“Energy markets must work for all consumers and the government is committed to making that happen,” the Department for Business, Energy & Industrial Strategy said in a statement on Monday. The government will make an announcement on this, a spokesperson said, declining to give any details on the timing.