spooks investors with Ofgem warning

Adam Hignett
SHARES in tumbled yesterday after it said it may be the target of an Ofgem probe.

In a statement released on Wednesday night, the firm informed investors it was being required by Ofgem to provide information in connection with an investigation: “into whether two or more companies providing a supporting service for the energy industry have breached competition law.” Ofgem then said the information it provides would also determine if it too would be a subject of investigation.

Investors reacted badly to the news, with shares closing down 9.9 per cent at 275.80p. Contagion spread to Zoopla, which owns uSwitch, where shares closed down 5.32 per cent.

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