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Companies backed by assets, with a history of paying dividends to shareholders? Or targets for overregulation? Ciaran Mallon, Fund Manager of Invesco Income Growth Trust plc, considers the case for regulated utilities.
The UK utilities sector is a well-worn political target. In successive election campaigns – and under different governments – it has seen everything from caps on household energy bills to the premature cessation of sustainable energy subsidies.
In 2017, the UK General Election brought Britain’s wires, pipes and waterworks back under the spotlight, as the threat of nationalisation under a Corbyn-led Labour Government weighed on the share prices of many of the UK’s key utility providers. Recent political developments have led to a resurgence of this political promise – bringing conversations of public ownership – and regulatory oversight more broadly – back into the spotlight.
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