Scottish Power accepts Iberdrola’s takeover bid

Jack McConnell 
Glasgow, Scotland — (METERING.COM) — November 30, 2006 – U.K. utility Scottish Power has given the thumbs-up to a takeover bid by Spanish utility Iberdrola, which would result in the creation of one of the largest utilities in Europe.

The news has not been received with universal acceptance, however. Jack McConnell, first minister in Scotland’s regional government, has indicated that he will ask the EU for assurances that the takeover will not adversely affect competition, and that the evaluation of the takeover bid will be conducted according to the European Commission’s competition rules.

Scottish Power supplies electric and gas services to over 5 million customers in the U.K., and is well known for its efforts to make increasing use of renewable energy, particularly wind generation.