Energy group Powergen launched new products to undercut rival British Gas today, but is yet to pass on the savings to its wider customer base.

Consumer groups in the UK today welcomed the first British Gas domestic price cuts in seven years and called on other energy firms to follow suit.

The London market slipped into the red today despite a 9% surge in Scottish Power shares after the energy supplier gave details of an approach from an unnamed suitor.

The owner of electricity supplier Powergen said today higher power prices had helped ramp up sales as it stayed on course to hit growth targets.

Rumours of a bid for Scottish Power swept the London market today during an otherwise disappointing session for the FTSE 100 Index.

The UK energy crisis took an unexpected twist today as it emerged that natural gas was being given away for nothing on the wholesale market.

Aviva’s plan to move 1,000 jobs to India, as part of costcutting measures which will see the loss of 4,000 UK staff, makes it just the latest in a long line of companies who outsource overseas.

Millions of households in Britain were facing further misery today after Powergen hiked energy bills by as much as 18.4%.

Workers at a power station in Co Clare tonight called off a day of protest after a sacked Polish shop steward and other union activists were re-employed at the Moneypoint plant.

Wholesale gas prices in the UK remained near record levels today after yesterday’s unprecedented warning that demand was outstripping supply.

Lower oil stocks derailed the FTSE 100 Index today as further strides towards the 6000 barrier came to nothing.

Hopes for a further round of takeover activity in the energy sector grew today following a £20 billion move by Powergen owner E.ON for Spanish firm Endesa.

The FTSE 100 Index continued its march towards the 6000 mark today as takeover activity in Europe boosted gas and electricity stocks in London.

Energy giant Scottish Power replaced its chief executive of the last four years with the former boss of a drinks firm today.

The London market today closed at levels not seen since the summer of 2001 as upbeat earnings from Enterprise Inns cushioned some shock news in the energy sector.

Powergen owner E.On pulled plans to bid for Scottish Power today after being told a proposed offer worth £11.3bn (€16.5bn) failed to meet expectations.

Investors overcame the collapse of a potential multi-billion pound takeover today as the FTSE 100 Index pushed back above the 5500 barrier.

Powergen owner E.On revealed today it had been thwarted in its attempt to buy rival Scottish Power for more than £10bn (€14.6bn).

The FTSE 250 Index raced to a record high today as the wider London market enjoyed another day of strong growth.

Oil stocks dragged the FTSE 100 Index into the red today despite renewed takeover speculation surrounding Scottish Power.

Scottish Power shares jumped ahead today after takeover developments involving the utility took a new twist over the weekend.

Powergen owner E.ON boosted the amount of gas it generates from the UK today with a deal worth £470m (€693m) for UK producer Caledonia Oil and Gas.

The FTSE 100 Index moved closer to a new four-year high today after gains by stocks such as takeover target Scottish Power lifted spirits.

Renewed bid speculation involving a top flight stock helped the FTSE 100 Index nudge closer to its highest level in more than three years today.

British Gas was braced for another customer backlash today after hiking household energy bills by 14.2%.

Scottish Power was leading the FTSE 100 Index higher today as investors cheered the prospect of a takeover by a German utility firm.

The owner of the Powergen brand in the UK confirmed today that it was weighing up a takeover bid for Scottish Power.

The London market resumed its rally today as investors continued their hunt for potential takeover candidates.

The Bank of England cut interest rates today for the first time in two years.

One of the biggest energy companies in the UK increased its power prices for the fifth time in 18 months today.

EUROPEAN champions Wasps last night revealed a sense of “deep embarrassment” over their humiliating Powergen Cup exit which has sent shockwaves through English rugby.

Office and factory staff are switched on to working harder if they can listen to the radio at the same time, new research showed today.

UK energy giant Powergen announced further price hikes of 8.9% for electricity and 9.6% for gas today.

Former British Conservative Party leader William Hague has been appointed to the board of an Irish software group, it emerged today.

Powergen today said it was adopting the name of its German parent company.

AIRTRICITY has sold just under half of its stake in a Scottish windfarm for a total of £10.5 million (€15.9 million).

Paul Gustard has no regrets about moving from Leicester, the dominant force in English club rugby in recent years, as he attempts to lead London Irish to the Powergen Cup final for the second successive year.

British Energy’s financial crisis highlights the problems facing the electricity industry – and raises question marks over the future of nuclear power in the UK.

Leading shares plunged in opening deals, dragged lower by TMTs, heavyweight drugs and oils after precipitous falls on Wall Street last night, with only a handful of defensively positioned stocks registering a gain, dealers said.

Irish company Alphyra has announced that its UK subsidiary, Alphyra UK Ltd, has signed an agreement with Powergen, allowing Powergen's customers to make payments towards their electricity, gas and telephone bills through Alphyra's nation-wide terminal network.

Irish company Alphyra has announced that its UK subsidiary, Alphyra UK Ltd, has signed an agreement with Powergen.

The FTSE 100 Index is down 3.4 at 5179.1.

PowerGen says growth in its UK retail business has slowed amid tougher competition for household accounts.

The Footsie index of 100 leading stocks is down 51.6 points by mid-morning at 4984.4, although this marks something of a rebound from an earlier 133-point slump.