SCOTTISHPOWER more than doubled the profits it made in the household supply business last year in spite of the fall in demand for energy triggered by the coronavirus crisis, it said this week.
The Glasgow-based energy giant made £220 million from the sale of gas and electricity to consumers and businesses in 2020 compared with £95m in the preceding year.
The results for 2019 covered the first year of the price cap that the regulator, Ofgem, imposed in respect of customers on variable tariffs.
READ MORE: Spanish-owned ScottishPower said the results for 2019 were adversely impacted by a change that was made by Ofgem in respect of the cap, which had a one-off effect. However the results achieved by ScottishPower in 2020 suggest the retail business remains very profitable following the introduction of the cap.
Energy giant to double capacity of hydro plant
Drax has underlined the commercial value of the huge hydro power plant it operates in the Argyll hills as it works on plans for a dramatic increase in the scale of the facility.
Huge scale of Brexit woe flagged by engineering chief
Even the best-prepared companies with solid export and import experience have had to contact Scottish Engineering for advice on a raft of complex issues arising from Brexit, the industry body’s chief executive has revealed.
Paul Sheerin has meanwhile declared that, if the sector’s Covid-19 response has been a positive in the latest quarter, then the “reality of ending the Brexit transition period has been more than its balance”.
Glasgow Airport chief claims Nicola Sturgeon sent 'very worrying signal'
The chief of Glasgow Airport claims Nicola Sturgeon has this week sent a message that the aviation industry is “not a priority” for the Scottish Government,
Owner of Glasgow's Horse Shoe bar in fundraiser
Mitchells & Butlers, the leisure giant behind a raft of famous pubs such as The Horse Shoe Bar in Glasgow, has launched a “critical” £351 million fundraiser to stabilise its financial position as it burns through huge amounts of cash during lockdown.
New Scottish challenger to launch this year
A new bank focused on serving small and medium-sized businesses has launched a £5 million funding round ahead of what is expected to be its full operational launch later this year.
Defence giant hails Glasgow shipyards
BAE Systems has said its Glasgow shipbuilding programme is on course and a new order of Typhoon jets will help drive it to another year of growth after posting higher sales in the face of the pandemic.
Opinion
Kristy Dorsey: Non-compete restrictions set for possible ban or overhaul
Ian McConnell on Wednesday: Long-running fears of hostile intent but no one expected a UK Government takeover
Scott Wright: Sturgeon's exit plan fails to satisfy worried and frustrated tourism industry
Ian McConnell on Friday: Brexit is a mess but Lord Frost sees himself on ‘shoulders of giants’
Brian Donnelly: Why Scottish petition for UK-wide unlock follows Sturgeon plan
Features
Monday Interview: Coatbridge snowball maker just keeps on rolling along
SME Focus: Edinburgh technology entrepreneur keeps eyes on global market
From the Bulletin: Business leaders criticise Nicola Sturgeon route map
Business Bulletin:
— Brian Donnelly (@BrianDonnellyHT) February 23, 2021
◾Business leaders react to Nicola Sturgeon route map @SLTAssociation @st_alliance @CBI_Scotland @the_brc @ScotChambers
◾Opinion: Liz Cameron on the issue of furlough
◾https://t.co/7NfEqrgDyo pic.twitter.com/xB51h9jxdA
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