LONDON, Nov 17 (Reuters) - London-listed power generators shares rose on Thursday after British finance minister Jeremy Hunt said the average household energy bill would rise and kept a price cap until 2024.
Shares in Drax, Centrica, SSE saw the biggest volatility in the London market on Thursday, trimming earlier declines to jump between 7% and 3%.
"These companies swiftly reversed losses to trade multiple percent higher after Hunt announced plans to extend the Energy Price Guarantee for another year until at least 2024. Centrica is the top performing stock on the FTSE 100 today," Victoria Scholar, head of Investment at Interactive Investor, said.
Hunt said the cost of an average household energy bill would rise to 3,000 pounds ($3,555) a year from April.
Those shared had previously fallen sharply when Hunt said the government would increase a windfall tax on oil and gas firms and extend it to power generation firms. (Reporting by Joice Alves)