ScottishPower - Continuing to Shape The Future Of The UK Energy Industry

ScottishPower1 continues to make steady progress against its goal to help deliver decarbonisation and its GBP6.7 billion investment plan to 2025.

It has published its half-year report for 2023, a period in which its ScottishPower Renewables business formalised its biggest ever contract award of GBP1.3 billion for 95 Siemens Gamesa turbines for its East Anglia Three offshore wind farm ('EA3'). The project will supply enough green energy for 1.3 million UK homes and will be the world's second largest windfarm.

Iberdrola Executive Chairman Ignacio Galan met with the UK Prime Minister, the Rt Hon Rishi Sunak, following the announcement in March. He heralded the project greenlight saying 'I am delighted that ScottishPower and Iberdrola are investing in the UK - creating thousands of jobs and crucially helping millions of families keep their homes warm with cheaper, renewable energy.'

To support the electrification of the economy, SP Energy Networks continues to make significant innovations and investments under its RIIO-ED2 business plan, 'Enabling the path to Net Zero'. It sets out how it will be a trusted partner for communities, customers and stakeholders, and ready the business for a digital and sustainable future.

Innovation and investments kickstarted include a GBP23 million upgrade to the Crewe substation, to the benefit of 80,000 households, a project to create a 'digital twin' of the country's electricity network to test digital solutions to manage increased electricity demand on its real-life counterpart and leading a consortium to launch a world-leading project, 'BLADE', to demonstrate the potential of using offshore wind to provide black start restoration services to the electricity grid.

With the cost-of-living crisis continuing to have an impact, ScottishPower's customer business remains committed to helping UK homes and businesses manage their energy use and support decarbonisation. It continues to work closely with Ofgem as the industry evolves its support for the vulnerable and those in debt or facing hardship.

Keith Anderson, ScottishPower CEO, said: 'The UK needs to go faster and harder than we have ever gone before, to deliver a more secure, affordable and cleaner energy system and decarbonise the rest of the economy.'

'At ScottishPower we are leading the charge with huge investments that will help transform the UK power sector.'

'Despite macroeconomic headwinds, we continue to make steady progress in delivering the low carbon infrastructure the UK needs for the future.'

Scottish Power UK plc is an immediate subsidiary of Scottish Power Limited and is a member of the Scottish Power Limited Group ('ScottishPower').

Contact:

Tel: 0800 0270 072.