European Utilities Rally As EU Unveils Rescue Plan

Just hours after the European Commission proposed caps on power prices across the bloc, European utilities have rallied, with stocks gaining on indications that a price cap plan will include ways to increase liquidity for energy companies facing over a trillion dollars in margin calls.  More than anything, European utility stocks seem to be rallying on more clarity about what is to come, with RBC Capital Markets’ Fernando Garcia telling Bloomberg that the price cap proposal “might remove uncertainty for the sector and make it sustainable…