UK power stocks fall as Reeves moves to break gas-electricity price link; SSE, Centrica, Drax, Ørsted slide

UK power stocks fell after Chancellor Rachel Reeves said the government is preparing plans to separate gas prices from electricity costs. The announcement sparked investor concerns that cheaper wholesale power could squeeze generator earnings, prompting declines in major utilities. Shares cited in the report—SSE, Centrica, Drax and Ørsted—showed notable weakness, with related tickers in the article’s table down across the board. The move highlights policy risk for the UK energy sector and could weigh on the broader UK 100 index if sentiment persists or measures materially reduce generator margins.