ScottishPower has unveiled plans to stop selling energy to British industrial and commercial (I&C) customers.

A ScottishPower spokesperson said: “The energy market is facing unprecedented challenges and we have taken the decision to exit the I&C market.

“There is no impact on existing business customers, we will continue to honour all contracts and no employees are affected by this decision.”

The spokesperson for ScottishPower told ELN the company is engaging with all its business customers individually.

The announcement follows speculation about the future of Gazprom Energy as the company tries to find a buyer after key clients are considering exiting their contracts.

A government spokesperson told ELN: “We are aware that Gazprom Energy has a large presence in the non-domestic energy retail market. Gazprom’s retail business continues to trade in the UK and customers should exercise their own commercial judgement with regards to energy supply contracts they have in place at the moment.”

Earlier this month, Centrica, owner of Britain’s largest energy supplier British Gas said it would exit its gas supply agreement with Kremlin-controlled Gazprom.

A few days ago, ScottishPower, which is part of Iberdrola Group, announced a new donation of power generators and food to Ukraine.