Scottish Power Company History
ScottishPower was founded in 1990 as part of the privatisation of the electricity industry in Scotland. Being one of the largest energy companies in Scotland, ScottishPower generated and supplied the majority of power in Scotland and in 1995 completed the acquisition of Manweb. This led ScottishPower into the water industry, with a purchase of Southern Water.
In the year 2000, ScottishPower acquired PacifiCorp, an American electricity supplier, then later sold in 2005.
2002 was the year ScottishPower opened on the London Stock Exchange as British homes became open to different energy suppliers. Then, later on in 2006, ScottishPower accepted a bid from the Spanish energy company Iberdrola for £11.6bn. This made them the third-largest energy company at the time.
The Iberdrola Group is a worldwide energy company, a global leader in the wind energy business with operations used in the US, Brazil, Spain, Mexico and the UK.
Scottish Power Today
Today, ScottishPower has an emphasis on green, renewable energy. They were the first energy company to generate 100% green electricity in the UK. ScottishPower shifted from gas and coal generation to wind power, selling their gas and coal business to Drax for £702m. This included a £5.2bn plan to invest in renewable energy within 4 years to homes across the UK. This number has risen to £7bn in 2020.
ScottishPower employs over 6,000 employees currently, with 207 staff currently in training. Under the Iberdrola umbrella, Iberdrola is the worlds leading producer of wind energy. The UK accounted for 15.9% of the sales in 2019, with over 5.5m euros.
Map of Business
ScottishPower is the main supplier for electricity in Central and Southern Scotland, taking power from wind farms and power stations, then transporting it across the country via their extensive transmission network.
Their network is made up of over 3700km of overhead lines and over 600km of cables underground.
With enough substations for 1 in 100 customers, 40000km of overhead lines and over 60000km of underground cables, ScottishPower counts for 1.6m customers. This includes three of the biggest cities in the UK, Glasgow, Edinburgh and Liverpool. ScottishPower retail supplies electricity and gas to over 5m homes and businesses in the UK.
ScottishPower has corporate offices located across the UK, including locations in:
Products and Services
ScottishPower currently focuses on three main operations:
- Energy Wholesale
- Energy Networks
- Energy Retail
ScottishPower also has aimed to provide these three goals:
- Creating clean energy for the UK and reducing offshore wind energy costs.
- Building the UK’s power future, maximising value for customers and shareholders.
- Customer fairness by delivering low prices which match energy efficiency standards.
ScottishPower currently offers 100% green electricity, generated in the UK from wind farms. ScottishPower also has a plan to transition to Net Zero by 2045 through the RIIO-T2 Business Plan. There is also a Zero Carbon Communities scheme in place, aiming for a zero-carbon future by 2050.
ScottishPower also has numerous commitments, including:
- Cancer Research – Starting in 2012, ScottishPower has committed to the fight against cancer, by raising over £30m to Cancer Research UK.
- Modern Slavery Statement – ScottishPower pledged to eradicate modern slavery in 2015 in a statement released by CEO Keith Anderson.
ScottishPower Fuel Mix 2019/20
In the UK, energy suppliers use different mixes of energy sources when generating electricity. It is a legal obligation to disclose this information, including their fuel sources. Below is a table of ScottishPowers’s fuel mix for 2019/20.
|Energy Source||Green Tariffs (1)||All other Tariffs (2)||ScottishPower Total Fuel Mix (3)||UK Fuel Mix (4)|
|CO 2 Emissions||0g per kWh||326g per kWh||264g per kWh||198g per kWh|
|High Level Radioactive Waste||0g per kWh||0.0005g per kWh||0.0004g per kWh||0.007g per kWh|
(1) This is the fuel mix for all customers on green tariffs
(2) This is the fuel mix for all customers that are on non-green tariffs
(3) This is the mix of all the energy SP buy to supply their entire customer base
(4) This is the fuel mix of total electricity supplied in the UK
ScottishPower has numerous subsidiaries, included are:
- ScottishPower Energy Networks
- ScottishPower Renewables
- ScottishPower Retails & Generation
- ScottishPower UK plc
- SP Network Connections Limited
- ScottishPower Renewable Energy Limited
One of the main subsidiaries for ScottishPower is ScottishPower Renewables, part of Iberdrola Renovables which is the worlds leading renewable energy developer.
With a focus on renewable energy, ScottishPower Renewables is all about creating new ideas and innovations to pioneer the green energy market. With plans in place for expansion of its current onshore wind site, there is an investment for growth in solar development. ScottishPower Renewables also delivers Iberdrola’s wind-farms, located East Anglia, offshore in the Southern North Sea.
ScottishPower Renewables own wind farm sites that produce over 2000MW. There are 40 wind farms, with locations such as West of Duddon Sands and the newer 350MW Wikinger winder located in the German Baltic Sea.
Board of Directors
On the ScottishPower website, it lists the member of the Board and Executive Team. The purpose of this group is to continue in the building of more accessible energy, creating a global energy transition focusing on the ongoing fight against climate control. There is also a goal to abandon the use of fossil fuels and look towards renewable energy sources.
Ignacio Galán – Chairman
Previously holding roles such as CEO of Airtel Movil (Vodafone Espana), Ignacio Galán has experience in the engineering industry also, including roles with Industry de Turbo Propulsores and aerospace company Eurojet. In 2019, Galán was nominated by the Harvard Business Review Rankings as one of the top 5 best CEO’s and selected as one of 30 leaders that are fighting climate change by Bloomberg.
Lord John Kerr of Kinlochard GCMG – Vice Chairman
Fluent in both English and French, Lord Kerr has held roles with the Foreign Office and HM Treasury. As well as Ambassador to the EU and Secretary-General of the EU Convention, in 2004 Lord Kerr became an independent member of the House of Lords.
Keith Anderson – Chief Executive Officer
Appointed in 2012, Keith Anderson is responsible for ScottishPower’s activity in the UK. This includes overseeing a large investment of £5.3bn for strengthening the companies position for 2022. Previous companies include The Royal Bank of Scotland and Ernst & Young.
Suzanne Fox – Non-Executive Director
Suzanne Fox has previously held roles of CEO at M&S Bank, becoming the banking industry’s few female CEO in her role from 2014-2019. In December 2018, Fox was appointed as a non-executive director for ScottishPower.
Wendy Barnes – Non-Executive Director
With over 20 years of experience in the utility field, Wendy Barnes was appointed non-executive director in 2015. Wendy Barnes has gained 10 years experience working at British Nuclear Fields and over 10 years with North West Water/United Utilities.
Websites and Social Media
Below are a list of websites for contacting ScottishPower:
Here is a list of the contact numbers for ScottishPower:
The number for Central and Southern Scotland – 0800 092 9290
The number for Cheshire, Merseyside, N. Wales and N. Shropshire – 0800 001 5400
The number for investors – 0871 384 2936
In April 2007, ScottishPower was taken over by Iberdrola, with all of the ordinary share acquired by the Spanish company. All former shareholders of ScottishPower may now have become shareholders of Iberdrola.
Stock Exchange Codes:
- Bloomberg – IBE:SM
- Reuters – IBE.MC
- Datastream – E:IBE
Iberdrola shares are admitted for trading on the Valencia, Barcelona, Madrid and Bilbao Stock Exchanges. These shares are listed on over 65 stock market indices, such as:
- DOW JONES STOXX GLOBAL 1800
- DOW JONES EUROSTOXX 50
- DOW JONES SUSTAINABILITY INDEX
|Top 4 Shareholders of Iberdrola||Equities||%|
|Qatar Investment Authority (Investment Management)||553,147,372||8.71%|
|Norges Bank Investment Management||198,302,047||3.12%|
|The Vanguard Group, Inc.||177,141,991||2.79%|
|Capital Research & Management Co. (Global Investors)||134,511,405||2.12%|
Scottish Power has recently invested in producing and selling low-carbon hydrogen. This comes from Iberdrola rolling out its new unit back in September, aiming for 600MW by 2025. One of the first projects is aimed at decarbonising food, drink and heavy transport. Cooperating with the still industry, distilleries and petrochemical users, Scottish Power hopes to produce 5GW of low carbon hydrogen by 2030. Scottish Power has announced they are working on the Green Hydrogen for Scotland project. This includes a 10MW electrolyser which will be installed outside of Glasgow.
In recent years, Scottish Power has faced some negative news stories that have garnered attention within the energy industry and among its customers. While Scottish Power strives to provide reliable energy services and meet customer expectations, it is important to highlight these challenges for a balanced perspective. Here are some recent negative news stories surrounding Scottish Power:
- Customer Service Complaints: Scottish Power has faced criticism regarding its customer service and complaint handling processes. Some customers have expressed dissatisfaction with long waiting times, difficulties in reaching customer support, and inadequate resolutions to their issues.
- Billing Errors: There have been instances where Scottish Power customers experienced billing errors, such as incorrect meter readings, overcharging, or billing discrepancies. These issues can cause confusion and inconvenience for customers, impacting their trust in the company.
- Price Increases: Like many energy suppliers, Scottish Power has implemented price increases over the years, leading to higher energy costs for consumers. These price hikes have faced scrutiny from customers and consumer advocacy groups, particularly when they occur alongside other negative experiences.
- Smart Meter Rollout Challenges: Scottish Power, like other energy companies, has faced challenges in the implementation of smart meters. Some customers have reported issues with smart meter installations, including delays, incorrect readings, or difficulties accessing smart meter functionalities.
- Network Outages: Occasionally, Scottish Power has experienced network outages or disruptions in certain areas, resulting in power cuts or service interruptions for customers. These incidents can cause inconvenience and frustration, particularly if they occur without timely communication and updates.
It is important to note that while these negative news stories exist, Scottish Power continues to work towards improving its services and addressing customer concerns. The company regularly reviews its operations, invests in infrastructure upgrades, and implements measures to enhance customer satisfaction.
If you are a Scottish Power customer or considering their services, it is advisable to stay informed about any developments and updates from the company. Checking the official Scottish Power website (ScottishPower.co.uk) or reaching out to their customer service channels can provide the most accurate and up-to-date information regarding any negative news stories and the actions taken to address them.
Sponsorship and Support
Scottish Power is committed to supporting various teams and organizations as part of its corporate social responsibility initiatives. By collaborating with these entities, Scottish Power aims to contribute to the well-being of communities and make a positive impact. While specific sponsorships and partnerships may vary over time, here are some examples of teams and organizations that Scottish Power has supported:
- Sports Teams: Scottish Power has sponsored and supported several sports teams, including football clubs, rugby teams, and motorsport events. These partnerships help promote sports and encourage healthy lifestyles within communities.
- Charitable Organizations: Scottish Power collaborates with various charitable organizations to support their initiatives. This includes providing financial contributions, volunteering efforts, and raising awareness for important causes such as environmental conservation, health, and education.
- Community Initiatives: Scottish Power actively engages with local communities by sponsoring events, festivals, and cultural programs. These initiatives help foster community spirit and promote social inclusion.
- Educational Institutions: Scottish Power recognizes the importance of education and has partnered with educational institutions to support programs that enhance learning opportunities for young people. This includes scholarships, mentoring programs, and educational initiatives focused on science, technology, engineering, and mathematics (STEM) subjects.
- Energy Efficiency Programs: Scottish Power is involved in energy efficiency programs and initiatives aimed at promoting sustainable practices and reducing carbon emissions. These programs often involve partnerships with government agencies, non-profit organizations, and industry stakeholders.
Key Financial Data
In 2022, ScottishPower UK Plc, a prominent electricity supplier, achieved a net profit of 487 million British pounds. This amount signifies a noteworthy rise in comparison to the preceding year.
|Revenue||Operating Profit||Capital Investment|
|Financial Key Performance Indicators||2019 (£m)||2018 (£m)||2019 (£m)||2018 (£m)||2019 (£m)||2018 (£m)|
What Does The Future Hold For Scottish Power?
The future of Scottish Power has been a topic of interest and speculation within the energy industry. As a prominent energy supplier in the UK, Scottish Power has been actively involved in shaping the future of the energy sector and responding to evolving market trends. Here’s an overview of what people have said about the future of Scottish Power:
- Renewable Energy Transition: Scottish Power has demonstrated a strong commitment to renewable energy sources. With a focus on wind power, the company has invested significantly in the development of offshore wind farms, positioning itself as a key player in the clean energy transition. Industry experts and analysts have praised Scottish Power’s efforts in embracing renewable energy and reducing reliance on fossil fuels.
- Innovation and Technology: To meet the challenges of a changing energy landscape, Scottish Power has shown a proactive approach to innovation and technological advancements. The company has explored new technologies such as smart grids, energy storage, and electric vehicle infrastructure. This forward-thinking approach has garnered positive attention and positioned Scottish Power as an innovative leader in the industry.
- Customer-Centric Approach: Scottish Power has recognized the importance of meeting customer needs and expectations in the evolving energy market. By focusing on customer service, offering competitive tariffs, and providing digital solutions for greater control and convenience, Scottish Power aims to enhance the customer experience. This customer-centric approach has received positive feedback from consumers and industry observers.
- Net-Zero Commitment: Scottish Power has set ambitious goals to achieve net-zero carbon emissions by 2050. Through significant investments in renewable energy projects and decarbonization efforts, the company aims to contribute to the UK’s overall climate targets. This commitment to sustainability has been well-received by environmental organizations and those advocating for a greener future.
- Collaborations and Partnerships: Scottish Power has actively engaged in collaborations and partnerships with other organizations, research institutions, and government bodies. By working together, they aim to drive innovation, develop new technologies, and influence policy decisions for a cleaner and more sustainable energy future.
It is important to note that the future of any energy company, including Scottish Power, is subject to various factors, including regulatory changes, market dynamics, and technological advancements. Scottish Power’s proactive approach, commitment to renewable energy, and customer-centric initiatives position it well for the future energy landscape, and stakeholders are closely watching its progress and contributions to the industry.
For the most up-to-date information on Scottish Power’s future initiatives and developments, it is advisable to visit the official Scottish Power website (ScottishPower.co.uk) or refer to relevant industry news sources.