ScottishPower publishes its 2006/07 Corporate Responsibility Report at an exciting time.

Following the merger with Iberdrola, we have created one of the largest energy groups in the world, with a combined enterprise value of more than €70 billion and a total installed capacity of nearly 40,000 MW. Of this, 6,238 MW is wind power, consolidating our position as the leading world operator in this technology.

As part of the Iberdrola group, ScottishPower will play an important role in our goal of becoming the leading world player in terms of our commitment to clean energy and respect for the environment. We are equally committed to delivering sustainable value for shareholders, employees, customers and society. This is ScottishPower’s first Corporate Responsibility Report since the merger with Iberdrola. While this report covers the period immediately prior to merger, it demonstrates an approach to responsible business that is aligned to that of the Iberdrola Group.

I hope you find the report useful and interesting. I would be pleased to hear from you on any of the matters raised within the report, or indeed on any other aspects of our operations.

José Luis del Valle
Vice Chairman
June 2007