Brand value: US$1,414 million
Change since 2019: 13%
Headquarter city: Glasgow
Year formed: 1901
ScottishPower supplies gas and electricity to over 5 million households and businesses across the UK. The business has a major environmental focus, and early this year launched a new “green” tariff that will supply all of its energy from its own renewable energy projects. The business has announced plans for significant expansion of onshore windfarms across Scotland and possibly Ireland as part of what CEO Lindsay McQuade has described as an “ambitious pipeline of onshore renewables”. It is also planning to install solar panels on windfarms to boost production. ScottishPower has launched Zero Carbon Communities in Glasgow as it seeks to help the city achieve its target of Net Zero emissions; the brand also sponsors Glasgow’s first fleet of e-bikes.
The green side of the business is performing more strongly than the rest. In late 2019; ScottishPower blamed mild winter weather and the government’s cap on the price of energy for an 80 percent drop in profits for the year to date; a year earlier, freezing weather had brought a surge in energy consumption.