ScottishPower is pleased to announce that it has reached a seven-year agreement with Peel Holdings, owners of Clydeport, for the management of imported coal deliveries to Longannet Power Station. The deal is estimated to generate £70m of incremental value over its seven year term.

Charles Berry, Executive Director, said: "This is an excellent deal for ScottishPower and provides a robust solution for our coal supply in partnership with Clydeport. By entering into a longer term deal, we have been able to unlock significant value for our generation business through reduced costs and more efficient operations".

Tom Allison, chief executive of Clydeport said: "This announcement heralds one of the longest contracts of its kind ever seen in the UK and underlines our commitment to providing long-term, innovative and extremely competitive services to our customers. This pivotal contract also significantly strengthens Hunterston's dominant position as the UK 's foremost facility for coal imports. It is tremendous news for Clydeport."

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Simon McMillan                                          0141 566 4875