ScottishPower is pulling out of the industrial and commercial (I&C) energy supply market as challenges continue across the sector.
Current± contacted ScottishPower earlier this week following media reports of the energy supplier’s exit from the I&C market.
A spokesperson for ScottishPower has now told Current±: “The energy market is facing unprecedented challenges and we have taken the decision to exit the I&C market. We are engaging with all our business customers individually.”
The impact of sustained high global power prices has been felt across the energy supplier market, with 27 energy suppliers collapsing in 2021 while Bulb entered special administration.
ScottishPower itself has been chosen as the supplier of last resort for Entice Energy and Orbit Energy following the collapse of the two energy suppliers last year.
Outside of its energy supplier arm, Iberdrola-owned ScottishPower is placing increasing focus on green hydrogen, setting up a new business unit for its development in 2020.
Last year, ScottishPower submitted a planning application for a 20MW electrolyser as part of the Green Hydrogen for Scotland project, as well as moving forward in site selection for a 35MW electrolyser.
ScottishPower Renewables, meanwhile, was offered option agreements for several wind farm projects through ScotWind Leasing earlier this year, including both fixed and floating wind.