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"I am very concerned about the tidal wave of cuts about to hit the sector.
Disappointing figures from UBS and Deutsche Bank also hit the sector, with Royal Bank of Scotland down 3.7p at 364.8p.
Many utilities do not have the dividend yields they once did, and the market's recent turbulence has hit the sector as much as, or more than, others.
The allegation of mis-selling by the country's biggest energy supplier is the latest in a series of scandals to hit the sector.
Funding cuts, which have hit the sector hard over the past few years, remain one of the key drivers pushing college to merge.
Like the rest of Japan's once-dominant semiconductor industry, Renesas, one of the largest chip makers in the world, is facing the biggest shakeout to hit the sector in a decade.
Similar(40)
A version of the sub-prime crisis was hitting the sector and other operators felt the pinch, with several seized by creditors.
Businesses with fewer than 500 employees lost 430,000 jobs in the month, ADP said, indicating that the recession was hitting the sector hard.
Four Seasons, which is owned by Hands' private equity firm Terra Firma, is at the forefront of a funding crisis hitting the sector.
Serco, the outsourcing group that is near the end of a five-year restructuring, expects to benefit from the turmoil hitting the sector.
Blessed with one of Asia's strongest economies in recent years, the Philippines is seeing domestic wealth boosted as a result, even as its resource industries suffer from the same market drag that is hitting the sector throughout the region.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com