American utility PPL snapped up its second major UK electricity network today after striking a deal worth £3.5bn (€4.1bn) with Germany’s E.ON.

The bosses of the UK’s biggest energy firms warned householders today to brace themselves for higher bills.

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

Electricity giant Powergen is to bring a coal generator near Rochester, Kent back into production after five years, it said today.