Is ScottishPower a subsidiary of Iberdrola?

Yes. ScottishPower is a wholly-owned subsidiary of Iberdrola S.A., the Spanish multinational electric utility. Iberdrola acquired ScottishPower in 2007 for approximately 11.6 billion pounds in an all-share deal. ScottishPower operates as Iberdrola's primary UK subsidiary, providing electricity and gas to approximately 5 million customers and generating 100 percent of its electricity from renewable sources.

Is ScottishPower publicly traded?

ScottishPower itself is not publicly traded as a separate entity. Its parent company, Iberdrola S.A., is listed on the Madrid Stock Exchange under the ticker symbol IBE and is a constituent of the IBEX 35 index. Iberdrola reported revenue of 49.1 billion euros for fiscal year 2025 and net profit of 5.4 billion euros. Investors who hold Iberdrola shares indirectly own a proportional interest in ScottishPower.

When was ScottishPower founded or acquired?

ScottishPower was formed in 1990 in preparation for the privatisation of Scotland's electricity industry, with shares floated on the London Stock Exchange in 1991. The company operated as an independent publicly traded utility for approximately 16 years before being acquired by Iberdrola in 2007 for approximately 11.6 billion pounds. ScottishPower was delisted from the London Stock Exchange following the acquisition.

Who founded ScottishPower?

ScottishPower was established through the privatisation of Scotland's previously state-owned electricity industry. The company was not founded by individual entrepreneurs but was created as part of the UK government's energy sector privatisation programme under Prime Minister Margaret Thatcher. The company was structured as a vertically integrated utility combining generation, transmission, distribution, and retail operations.

What is ScottishPower's market position?

ScottishPower is one of the UK's major energy suppliers, serving approximately 5 million retail customers and holding approximately 12 percent of the UK domestic electricity supply market. The company is the UK's leading wind power operator, with over 2,800 MW of installed onshore and offshore wind capacity. ScottishPower competes with British Gas, E.ON UK, EDF Energy, Octopus Energy, and Ovo Energy in the UK retail market.

Has ScottishPower had any controversies?

ScottishPower has faced regulatory actions from Ofgem, including a 1.3 million pounds compensation order in 2020 for overcharging on default tariffs and a 750,000 pounds fine in 2023 for missing smart meter installation targets. The company also faced public scrutiny during the 2022-2023 energy price crisis and has received high volumes of customer complaints related to billing accuracy and customer service. These issues have been addressed through compensation payments, system improvements, and customer support programs.

Energy & Utilities

Who Owns ScottishPower?

ScottishPower is owned by Iberdrola S.A., a publicly traded Spanish multinational electric utility listed on the Madrid Stock Exchange under the ticker IBE. Iberdrola acquired ScottishPower in 2007 for approximately 11.6 billion pounds, making it the Spanish utility's primary UK subsidiary. ScottishPower provides electricity and gas to approximately 5 million customers and operates entirely on 100 percent renewable electricity generation.

Parent Company

Iberdrola

Acquired

2007

Status

Publicly Traded

Headquarters

Glasgow, Scotland, United Kingdom

ScottishPower Timeline

1990

ScottishPower

Founded by Scottish electricity industry privatisation

Founded

2007

Acquired by Iberdrola

Iberdrola acquired ScottishPower

Acquired

United KingdomOfficial Website

Who Owns ScottishPower?

Parent Company: Iberdrola
Ownership Type: Subsidiary
Acquisition Year: 2007
Company Type: Publicly Traded
Stock Ticker: BME (IBEX 35): IBE

Brand	Parent Company	Ownership Type
ScottishPower	Iberdrola	Subsidiary

History of ScottishPower

Founded: 1990
Founders: Scottish electricity industry privatisation
Acquired by Iberdrola: 2007

ScottishPower was formed in 1990 in preparation for the privatisation of Scotland's previously state-owned electricity industry. The UK government under Prime Minister Margaret Thatcher had begun privatising state-owned utilities in the 1980s, and the Scottish electricity industry was part of this programme. The company was established as a vertically integrated utility, combining electricity generation, transmission, distribution, and retail operations across Scotland. ScottishPower's shares were floated on the London Stock Exchange in 1991 as part of the privatisation process.

Following privatisation, ScottishPower expanded its operations beyond Scotland. The company acquired Manweb in 1995, an electricity distribution company serving Merseyside, Cheshire, and parts of Wales, for approximately 1.1 billion pounds. This acquisition extended ScottishPower's distribution network into northwest England and Wales. The company also diversified into telecommunications and other utility services during the late 1990s.

In 2000, ScottishPower acquired PacifiCorp, a U.S. electric utility serving approximately 1.6 million customers across six western states, for approximately $5.4 billion. This acquisition made ScottishPower a transatlantic utility company. However, the PacifiCorp acquisition proved challenging, and the company faced difficulties integrating the U.S. operations, including regulatory issues and lower-than-expected returns.

In November 2006, Iberdrola announced its agreement to acquire ScottishPower for approximately 11.6 billion pounds. The acquisition was completed on April 23, 2007, creating Europe's third-largest utility by market value at the time. The deal was structured as an all-share transaction, with ScottishPower shareholders receiving 0.666 Iberdrola shares for each ScottishPower share, plus a special dividend of 12 pence per share. ScottishPower was delisted from the London Stock Exchange following the acquisition.

Under Iberdrola's ownership, ScottishPower underwent a significant strategic transformation. In 2018, ScottishPower became the first integrated UK energy company to generate 100 percent of its electricity from renewable sources. This transition was achieved by selling the company's remaining gas and coal generation assets to Drax Group for approximately 700 million pounds, leaving ScottishPower with only wind, solar, and hydroelectric generation capacity.

ScottishPower has since become one of the UK's leading renewable energy developers. The company operates Whitelee Wind Farm near Glasgow, which was the largest onshore wind farm in Europe when completed in 2009, with 215 turbines and a capacity of 539 megawatts. The company has also invested heavily in offshore wind, including the East Anglia ONE offshore wind farm, which became operational in 2020 with a capacity of 714 megawatts.

In 2024, ScottishPower committed to investing 12 billion pounds in UK renewable energy infrastructure between 2024 and 2028. This investment plan includes new offshore wind farms, upgrades to the electricity distribution network, and electric vehicle charging infrastructure. The company has also expanded into green hydrogen production and battery energy storage.

As of 2026, ScottishPower continues to operate as Iberdrola's UK subsidiary, with approximately 5 million retail customers and a generation portfolio consisting entirely of renewable energy sources. The company is led by Keith Anderson, who has served as CEO since 2018.

About Iberdrola

What does Iberdrola own?
Iberdrola owns six major subsidiary brands: ScottishPower (UK electricity and gas), Avangrid (NYSE: AGR, U.S. regulated utilities and renewables, 81.5% owned), Neoenergia (B3: NEOE, Brazilian electricity distribution and generation, approximately 53% owned), Iberdrola Espana (Spanish electricity), Iberdrola Mexico (Mexican electricity generation), and Iberdrola Energia Internacional (operations in Germany, France, Italy, Australia, and other markets). The company also operates Iberdrola Renovables as its global renewable energy development arm.

Is Iberdrola publicly traded?
Yes. Iberdrola is listed on the Spanish stock exchange (BME: IBE) as part of the IBEX 35 index. The company is also traded on the New York Stock Exchange through American Depositary Receipts (NYSE: IBDRY). Iberdrola has a standard single-class share structure with one vote per share. The largest shareholder is Qatar Investment Authority (QIA) with approximately 8.7% of shares. Avangrid and Neoenergia are separately listed on the NYSE and B3, respectively.

Who founded Iberdrola?
Iberdrola was founded in 1992 through the merger of Iberduero and Hidroelectrica Espanola, two of Spain's largest electricity companies. Hidroelectrica Espanola was founded in 1901 and built some of Spain's first hydroelectric power plants. Iberduero was formed in 1944 through a merger of several Basque-region utilities. The 1992 merger was driven by the liberalization of the European electricity market and the need for scale to compete.

Where is Iberdrola headquartered?
Iberdrola is headquartered in Bilbao, Spain. The company's corporate offices are in the Torre Iberdrola, a 165-meter skyscraper designed by architect Cesar Pelli that serves as the company's global headquarters. Bilbao is the capital of the Basque Country region, where Iberdrola's predecessor companies had their historical roots. Major subsidiary operations are based in Glasgow (ScottishPower), Orange, Connecticut (Avangrid), and Rio de Janeiro (Neoenergia).

How many brands does Iberdrola own?
Iberdrola owns 6 major subsidiary brands: ScottishPower, Avangrid, Neoenergia, Iberdrola Espana, Iberdrola Mexico, and Iberdrola Energia Internacional. The company also operates Iberdrola Renovables as its renewable energy development arm. Two subsidiaries, Avangrid (NYSE: AGR) and Neoenergia (B3: NEOE), are separately listed on stock exchanges with Iberdrola retaining controlling stakes.

Who owns Iberdrola?
Iberdrola is publicly traded with no controlling shareholder. The largest shareholder is Qatar Investment Authority (QIA), which holds approximately 8.7% of shares. Other major institutional holders include BlackRock (approximately 5%), Capital Group (approximately 3%), and various Spanish and international investment funds. The company has a standard single-class share structure with one vote per share. Ignacio Sanchez Galan serves as Executive Chairman.

What is Iberdrola's revenue?
Iberdrola reported FY2024 revenue of EUR 49.3 billion, with EBITDA of EUR 16.5 billion and net profit of EUR 5.6 billion. The Networks segment contributed approximately EUR 9.0 billion in EBITDA, the Liberalized Generation and Supply segment approximately EUR 5.5 billion, and the Renewables segment approximately EUR 2.0 billion. The company serves approximately 62 million customers across nearly 40 countries and has approximately 44,000 MW of installed renewable capacity.

Is Iberdrola involved in any legal proceedings?
Iberdrola and its subsidiaries face various regulatory and legal matters. In Spain, the company has contested government windfall taxes on energy companies. In the U.S., Avangrid's Central Maine Power faced regulatory scrutiny over billing errors and service reliability. The Vineyard Wind project faced legal challenges from fishing communities and a temporary halt after a blade failure in 2024. In Mexico, Iberdrola resolved regulatory tensions through a 2023 agreement to sell 13 gas-fired plants to the government for approximately $6.2 billion. In Brazil, Neoenergia has faced regulatory fines for distribution reliability issues.

Founded: 1992
Headquarters: Bilbao, Spain
Company Type: Publicly Traded
Stock: BME (IBEX 35): IBE
Revenue: EUR 49.3 billion (FY2024)
Employees: Approximately 43,000

Visit Iberdrola website

View full company profile for Iberdrola

Where Is ScottishPower Made / Based?

Headquarters: Glasgow, Scotland, United Kingdom

ScottishPower Categories & Tags

Energy Electricity Gas Utilities Renewable Energy Wind Power

ScottishPower Sustainability & Ethics

ScottishPower has positioned itself as a fully renewable energy company since 2018, when it became the first integrated UK energy supplier to generate 100 percent of its electricity from renewable sources. The company does not hold independent sustainability certifications such as B Corp status, as such certifications are not standard in the utility sector. However, ScottishPower's renewable generation is certified under the UK's Renewable Energy Guarantees of Origin (REGO) scheme, which verifies that electricity is generated from renewable sources.

The company has committed to investing 12 billion pounds in UK renewable energy infrastructure between 2024 and 2028, including offshore wind, onshore wind, solar, battery storage, and green hydrogen projects. This investment plan supports the UK's target of achieving net zero carbon emissions by 2050.

ScottishPower's environmental impact reporting is consolidated within Iberdrola's group sustainability disclosures. Iberdrola has committed to carbon neutrality by 2030 for Scope 1 and 2 emissions and has set science-based targets validated by the Science Based Targets initiative (SBTi). Iberdrola's Scope 1 and 2 emissions were approximately 60 grams of CO2 per kWh in 2024, among the lowest in the European utility sector.

The company has faced scrutiny regarding the environmental impact of wind farm developments, including concerns about bird and bat mortality at wind farm sites. ScottishPower conducts environmental impact assessments for all new developments and implements mitigation measures including habitat restoration and biodiversity monitoring programs.

ScottishPower Recalls & Controversies

ScottishPower has faced several regulatory actions and public controversies, primarily related to customer service, billing practices, and energy price volatility.

Ofgem Penalties and Fines: ScottishPower has been subject to multiple regulatory actions by Ofgem. In 2020, Ofgem ordered ScottishPower to pay 1.3 million pounds in compensation to customers who were overcharged on default tariffs. In 2023, Ofgem fined ScottishPower 750,000 pounds for failing to meet smart meter installation targets. These penalties reflect the regulatory pressures faced by UK energy suppliers in meeting compliance standards.

Energy Price Crisis (2022-2023): During the 2022-2023 energy crisis, when wholesale gas prices reached record highs due to the Russia-Ukraine conflict, ScottishPower faced significant public scrutiny over energy price increases. The UK government's Energy Price Guarantee capped typical household bills at 2,500 pounds per year from October 2022, with the cost partially absorbed by government borrowing. ScottishPower implemented customer support programs, including payment plans and hardship funds, but faced criticism for debt collection practices against customers in arrears.

Billing and Customer Service Complaints: ScottishPower has received high volumes of customer complaints related to billing accuracy, smart meter installation issues, and customer service responsiveness. Citizens Advice, the UK consumer advocacy organization, has ranked ScottishPower among the lower-performing energy suppliers in its quarterly customer satisfaction rankings. The company has invested in improving customer service systems, including digital self-service platforms and automated billing systems.

Wind Farm Development Opposition: ScottishPower has faced local opposition to some wind farm developments, particularly from communities concerned about visual impact, noise, and effects on property values. The company has addressed these concerns through community benefit funds, environmental impact assessments, and modified project designs. Community benefit payments from ScottishPower wind farms total approximately 5 million pounds annually to local communities.

ScottishPower Ownership: Pros & Cons

Advantages

+Access to Iberdrola's 44,000 MW global renewable energy portfolio and technical expertise
+Iberdrola's financial scale (49.1 billion euros in 2025 revenue) supporting UK infrastructure investment
+100 percent renewable generation positioning aligned with UK net-zero policy
+Investment commitment of 12 billion pounds in UK renewables between 2024 and 2028
+Integration with Iberdrola's global supply chain for wind turbines and grid equipment

Considerations

-Ofgem regulatory oversight including price caps, compliance requirements, and performance standards
-UK energy market reform (REMA) creating policy uncertainty for investment decisions
-Customer service performance challenges and regulatory penalties for billing and smart meter issues
-Currency exchange exposure between pound sterling and euro operations
-Dependence on Iberdrola's capital allocation decisions across its international portfolio

Frequently Asked Questions About ScottishPower

Sources & Further Reading

Competitors to ScottishPower

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

Brand	Parent Company	Country	Founded	Market Position	Primary Market	Gender Target
AvangridSister Brand	Iberdrola	USA	2015	Mass market	United states	Unisex
NeoenergiaSister Brand	Iberdrola	Brazil	1997	Mass market	Brazil	All-ages
Adani Power	Adani Group	India	1996	Mass market	Asia pacific	All Genders
Berkshire Hathaway Energy	Berkshire Hathaway	USA	1926	Mass market	United states	All-ages
Brookfield Renewable U.S.	Brookfield Renewable	United States	2011	Mass market	United states	All Genders
Siemens Energy	Siemens	Germany	2020	Premium	Global	All-ages