Shares in UK power companies slide over fears of windfall tax

Shares in some of Britain’s biggest power companies fell sharply on Tuesday over concerns that the government will hit electricity generators as well as oil and gas companies with a windfall tax.

Pressure is mounting on ministers to do more to help households offset the soaring cost of living as the UK regulator warned that domestic energy bills were expected to jump more than 40 per cent later this year.

Shares in Drax, owner of the…