Scottish Power to Exit Energy Supply for U.K. Businesses
- Energy market is facing ‘unprecedented challenges:’ company
- Company plans to exit commercial and industrial market
Scottish Power focuses on wind energy and will stop signing up commercial customers.
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Scottish Power Ltd., an arm of Spain’s Iberdrola SA, plans to gradually stop selling energy to British businesses as uncertainty in the industry grows with the potential failure of a large Russia-backed supplier.
“The energy market is facing unprecedented challenges and we have taken the decision to exit the industrial and commercial market,” the Scottish Power said Tuesday in a statement. “There is no impact on existing business customers, we will continue to honor all contracts and no employees are affected by this decision.”