UK power company SSE has struggled to attract new investors because of threats by the opposition Labour party to renationalise energy networks, its chief executive has said. In a rare interview, Alistair Phillips-Davies, said it had been difficult to encourage new investors to buy SSE’s shares after Labour warned it would bring back into public hands the large companies that own the cables and pipelines that deliver electricity and gas to homes and businesses. SSE is one of the UK’s Big Six household power suppliers but also has large energy networks and power generation businesses. The renationalisation threat was first made in Labour’s 2017 election manifesto but investors in UK energy network companies, which also include National Grid and Iberdrola of Spain, were further unsettled in May when the party suggested it would not compensate shareholders at market value.
FT 8th July 2019 read more »