iberdrola sale scottish power

Iberdrola adjusts the sale of Scottish power to Drax to share risks and adapt to European justice

Iberdrola Adjusts The Sale Price Of Scottish Power To Drax To Share Risks And Adapt To European Justice

The Spanish utility agreed to modify the initial agreement to sell part of the electricity power stations of its subsidiary Scottish Power to Drax Group. This firm sought to renegotiate the contract following an European Court of Justice ruling that declared illegal the payments to some UK stations to guarantee the capacity of electricity generation in the country.