Weather to Blame for Scottish Power’s Poor Profits
Big Six energy supplier Scottish Power has blamed the weather for an 80% drop in their profits. They also cited the energy price cap as another reason. Despite their wind-based renewables business growing, the firm has now lost around 165,000 customers over the last twelve months.
The firm says they have sold 10% less electricity and 8% less gas so far this year. While primarily blaming weather and price caps, they do acknowledge a significant loss of customers is also partly to blame. Their customer numbers have fallen from a still 4.78 million from November of 2018 to 4.62 million now.Read More