The merger of two of the UK's biggest energy firms is hanging in the balance after npower and SSE said they would have to reconsider the terms of the deal because of the government's price cap and tough market conditions.
Alistair Phillips-Davies, chief executive of SSE plc, said: "We continue to believe that creating a new, independent energy supplier has the potential to deliver real benefits for customers and the market as a whole, and that remains our objective". After recovering slightly, it fell again to a low of £11.28 - a drop of 4.6 per cent - before rallying to close at £11.52, down 2.5 per cent on the day.
Martin Herrmann, retail COO at innogy, meanwhile pointed to the complex nature of the transaction.
They said: "While price caps are a major headwind for United Kingdom energy suppliers, this issue is well-known in the market and the level at which the cap has been fixed was widely anticipated across the sector".
Any changes to the combination terms would be created to mitigate the impact of these developments.
It said the negotiations would include talks about "potential additional direct or indirect financial contributions by each party".
A planned asset swap between Innogy's German parent RWE and peer E.ON EONGn.DE would see Innogy's assets, likely including npower, divided between the two companies.
SSE announced after the market had closed on Thursday that SSE and Innogy SE, the owner of npower, are working together regarding potential changes to the commercial terms of the proposed combination of SSE Energy Services and npower Limited.
As of yet no details of what is being renegotiated have emerged.
The price cap aimed at saving consumers around £120 a year for their "typical usage" will be set at £1,137, but it will also mean suppliers have to cut the price of their default tariffs to at least the level of the cap. It is due to come into effect on 1 January.
Following a thorough review, the panel investigated how the merger would affect householders.
Households in England, Scotland and Wales on default tariffs - such as standard variable tariffs - stand to benefit.
The new company, which is yet to be named, already has several board members in place.
Pittsburgh survived 1:09 of 4-on-4 and killed off the entire 3:51 of Washington's power play from Malkin's match penalty. Oshie to a tee", Holtby said. "Oshie to a tee", Holtby said. "They come back, and they score the game-winner".
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The investigation revealed the choice of a certain autopilot setting before take-off made it target zero feet. Flight crew say they "became visual with the ground" as the plane plummeted when autopilot was switched on.
However, in this case, doing so will reformat the storage so it's key to backup your data before getting the laptop serviced. The same warning is provided for the 13-inch non Touch Bar MacBook Pro, which may experience SSD failure and data loss.
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India's Anirban Lahiri compiled a five-under 66 that put him in the mix at the halfway stage of the Mayakoba Golf Classic. Rickie Fowler (68) and Tony Finau (65) were at 8-under 134, along with their Ryder Cup captain, Jim Furyk, who had a 65.
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Properties raided after horrific Bourke Street attack
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Matt Kuchar claims sole lead of Mayakoba Golf Classic
Jordan Spieth was likely done for the year. "I was able to come back with a couple of birdies and I felt like I was in control". Rickie Fowler (68) and Tony Finau (65) were at eight-under 134, along with their Ryder Cup captain, Jim Furyk , who had a 65.