ScottishPower's H1 2023 earnings decreased 11% to £1bn due to lack of energy crisis allowance payment.
ScottishPower's earnings decreased 11% to £1bn in H1 2023 due to the absence of a one-off energy crisis allowance payment from Ofgem, affecting its supply arm. The company's renewables and network businesses saw significant gains, while earnings from its customer supply business dropped 70% to £175m. ScottishPower repaid the allowance in 2023 to help manage the energy price crisis in recent years.
July 24, 2024
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