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U.K. to probe gas suppliers' profits, sends U.K. energy stocks lower

  • Centrica (CPYYF, CPYYY) -3% in London trading after U.K. energy minister Ed Davey singles out the British Gas owner in the government's announcement that it is reviewing how the country's biggest utilities supply natural gas to households, threatening to break up any company it determines is wielding monopolistic powers.
  • British Gas has the largest share of the U.K. domestic supply market and, according to Davey, has charged households among the highest prices during the past three years while being on average the most profitable energy provider.
  • SSE (SSEZY, SSEZF), another of the "big six" utilities which dominate the British market, are down more than 1%.
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