Big Wind: FERC Authorizes Iberdrola’s Acquisition of Scottish Power

Washington, DC [] The U.S. Department of Energy’s Federal Energy Regulatory Commission (FERC) issued an order authorizing disposition of jurisdictional facilities that will result in Scottish Power becoming a wholly owned subsidiary of Iberdrola, and the PPM Companies will become indirect subsidiaries of Iberdrola. (PPM is a wholly owned subsidiary of Scottish Power Holdings, Inc., a Delaware corporation, which in turn is a wholly owned subsidiary of Scottish Power.) One of the many statements made by the applicants is that the transaction is consistent with the public interest and will have no adverse effect on competition, rates or regulation.
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