Energy supply industry is ‘recession-proof’

The energy industry is virtually ‘recession-proof’ with suppliers still making ‘healthy profits’ says a consumer group. Consumer Focus claims today’s annual results from ScottishPower and British Gas show energy firms are on steadier ground than they claim. Both firms posted a drop in earning although they still made several hundred million pounds of profit. Adam […]

SSE sells nuclear stake for nearly £6m

SSE has sold its 25% stake in nuclear power project NuGen for £5.75million, an amount which could rise by another £1.25m if progress at the project’s site in West Cumbria is good. The Scottish energy supplier announced plans to sell at the end of last year, saying it wants to focus on areas it has […]

Scotland gets investment boost from Spain

Scotland yesterday enjoyed a double-whammy of good news from Spanish energy companies. Energy giant Iberdrola, which owns Scottish Power, has revealed it is to invest £3bn in Scottish businesses over the next two years, while wind power firm Gamesa is to send a delegation to Scotland later this month to explore opportunities for investment. Iberdrola […]