ScottishPower’s parent company, Iberdrola, has officially taken control of Electricity North West (ENW), after the UK’s Competition and Markets Authority (CMA) cleared its acquisition of an 88% stake in the electricity distribution network.
The deal cements Iberdrola as the second-largest electricity distribution operator in the UK, with its networks now delivering power to around 12 million people across more than 170,000 km of infrastructure.
ENW serves 5 million people in the North West of England, covering a crucial area between ScottishPower’s existing network zones in Scotland, Merseyside, and North Wales.
The deal, originally announced in October 2024, valued ENW at approximately €5 billion (£4.1bn), including debt.
Iberdrola’s Executive Chairman, Ignacio Galán, welcomed the approval, stating: “Electrification is powering the UK’s growth and competitiveness, as well as improving its strategic autonomy and contributing to national security. Iberdrola continues to increase its investments here in support of the Government’s plans to modernise the country’s energy system.”
The acquisition forms part of Iberdrola’s strategy to strengthen its presence in markets with stable regulations and strong credit ratings, such as the UK.
With ENW now under its control, Iberdrola plans to accelerate investment in the electricity grid to support Britain’s transition to cleaner energy.
Iberdrola has been investing in the UK for nearly two decades and has already committed £30 billion to UK infrastructure, with plans to invest a further £30 billion by 2030.
Of this, two-thirds will be spent on transmission and distribution networks, while the remainder will go towards expanding renewable energy projects, particularly offshore wind.
A Japanese investor consortium led by Kansai will retain 12% ownership of ENW and has signed a long-term agreement to collaborate with Iberdrola on the network’s future development.
With 8,500 UK employees and a growing role in the country’s energy sector, Iberdrola’s expansion signals a major shift in Britain’s electricity infrastructure.
