The UK Competition and Markets Authority (CMA) has approved Iberdrola’s acquisition of an 88% shareholding in electricity distribution network operator Electricity North West (ENW) through its subsidiary ScottishPower. ENW supplies electricity to nearly 5 million people in North West England and operates approximately 60,000 km of distribution networks.
Geographically, ENW is positioned between ScottishPower’s existing network licence areas in central and southern Scotland, as well as Merseyside and North Wales. Iberdrola completed the acquisition in October 2024, valuing 100% of ENW, including debt, at approximately €5 billion. A consortium of Japanese investors, led by Kansai, will retain a 12% stake in ENW and has signed a shareholders’ agreement for long-term collaboration. With this acquisition, Iberdrola’s UK workforce now exceeds 8,500 employees.
