ScottishPower chief executive Philip Bowman agrees that the increases in prices have been significant. “But the reality is over the last several years the wholesale price of gas has gone up 200 per cent, while our domestic tariffs have gone up 100 per cent.”
Electric and gas watchdog group energywatch spokesman Graham Kerr says: “The energy market is dominated by companies that, like ScottishPower, generate electricity and supply it to customers. We question whether this ‘vertical integration’ is good for competition and delivers affordable price for consumers. That is why we have called for a Competition Commission inquiry into the Great Britain energy markets.”
The utility has confirmed that it is in talks with Spanish energy company Iberdrola regarding a possible takeover.
