ScottishPower Wins Oregon Approval For Merger
7 October 1999
ScottishPower and PacifiCorp announced that they have received approval for their merger from the Oregon Public Utility Commission (OPUC). The approval order incorporates all five stipulations entered into by the companies and the OPUC staff and other parties.
The Order is the second of six state regulatory approvals required for the merger to be completed. California approved the merger in June and Orders are pending from Washington, Utah, Wyoming and Idaho.
The approval is a significant milestone in the merger process, which the companies anticipate will be completed by the year-end. Oregon represents 34 percent of PacifiCorp's total customer base.
ScottishPower Chief Executive Ian Robinson said: "We welcome the speedy approval from the Oregon regulators and we are confident that the merger will soon be completed, creating one of the top 10 investor-owned utilities in the world."
Alan Richardson, Chief Executive designate of PacifiCorp added: "We have forged good relationships with all parties during the merger process which makes this approval even more gratifying. We are looking forward to delivering real benefits to customers and communities in Oregon when the merger is approved in the four remaining states."
In an announcement made on Tuesday (October 5th 1999) during a public deliberation meeting on the merger transaction, the Wyoming Public Service Commission announced that it has decided to approve the merger of the two companies, subject to the preparation and issuance of a final Order.
For Information:
Sue Clark
Director of Corporate Affairs 0141-636-4561
Colin McSeveny
Group Media Relations Manager 0141-636-4515
Iain Paterson
Investor Relations Manager 0141-636-4527