Scottish Power

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ScottishPower is part of the Iberdrola Group, a global energy company and world leader in wind energy with operations focused in the UK, US, Brazil, Mexico and Spain. ScottishPower operates in the United Kingdom through the following business companies: Scottish Power Generation Holdings Ltd (SPGHL), Scottish Power Energy Networks Holdings Ltd (SPENHL) and ScottishPower Renewable Energy Ltd (SPREL).

ScottishPower Renewables is part of the Iberdrola Group and, combined with Iberdrola Renovables, is the world’s No. 1 renewable energy developer.

Scottish Power UK plc, registered company number SC117120, principally acts as the holding company of the Scottish Power UK plc group, whose activities comprise the generation, transmission and distribution of electricity, energy management and the supply of electricity and gas principally in the United Kingdom (“UK”). The three parts operated by the group during the year were Energy Networks, Energy Wholesale and Retail, and Renewables.

The group’s strategic objectives include:

  • investing to power the UK’s future by optimising existing and future assets in order to maximise value for customers and shareholders;
  • making clean energy work for the UK, including reducing the cost of offshore and onshore wind energy and encouraging the construction of new gas plant; and
  • delivering fairness to customers and communities to enable everyone to benefit from its lowest prices and recommended energy efficiency measures.

The group will continue to invest in clean energy and its networks to ensure businesses and homes have the power they need, even though the environment within which the group operates remains challenging. Since the 2015 UK General Election, the Government has committed to ‘reset’ energy policy. This includes the potential reform of the Capacity Market to encourage new gas and hydro plant to be built and three further Contracts for Difference (“CfD”) allocation rounds up to 2020 that could include offshore wind if costs continue to fall.


Looking forward to 2016 and beyond:

  • the Energy Networks business will invest £7 billion over ten years as it continues to operate under the price control mechanisms laid out in the RIIO regime (Revenue=Incentives+Innovation+Outputs);
  • the closure of Energy Wholesale’s Longannet power station on 31 March 2016 marked the end of the plant’s 46 years of power production in Scotland;
  • the retail market continues to be competitive and Energy Retail’s response includes a new UK wide marketing campaign emphasising the ’big and small’ benefits provided to customers; and
  • in Renewables construction of the East Anglia One offshore wind farm will advance in 2016 and a further 474 megawatts (“MW”) of new onshore capacity will also come online.


The table below provides key financial information relating to the group’s performance during the year.

Financial key performance indicators (“KPIs”)

Revenue*

 

Profit from operations*

 

Capital investment**

 

 

2015
£m

2014
£m

2015
£m

2014
£m

2015
£m

2014
£m

Scottish Power UK plc group

6,590.4

7,107.4

665.1

765.0

1,334.4

1,337.9

 

* The group’s total revenue and profit from operations.
* The group’s total capital investment.
In the financial year, revenues have decreased by £517 million, primarily as a result of reduced sales within the Energy Wholesale and Retail business which are largely offset by lower procurement costs. Profit from operations has decreased by £100 million reflecting reduced profits in the Energy Wholesale and Retail business, principally due to impairment charges and provisions in relation to the closure of Longannet power station. This has been offset by increased profits from the growth of the Renewables business.


The group’s continued commitment to the UK and European energy market is reflected by a capital spend of over £1.3 billion in both 2015 and 2014. This represents 45% (2014 46%) of Iberdrola’s total net capital spend. Capital investment is focussed on the Energy Networks and Renewables businesses. The planned 2016 capital investment spend is expected to exceed that of 2015.

Useful Information

Scottish Power customer services contact number - 0800 027 0072

Website: www.scottishpower.co.uk

Scottish Power complaints procedure

Scottish Power emergency number - In an electricity or gas emergency, contact the network operator, not the supplier.

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