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Executive Change At ScottishPower

12/10/2010

ScottishPower will name a new executive responsible for the Company following the resignation of CEO Nick Horler.

The Board of ScottishPower today accepted Horler's decision to step down and approved a search for a new executive with a profile appropriate for the Glasgow-based company. Until this appointment is made, ScottishPower will continue to be run by its current management team, under the supervision of the Group's International Chief Operating Officer, Amparo Moraleda.

Mr Horler will remain as an adviser to the Chairman, having successfully completed an important phase in the integration of ScottishPower with Iberdrola. Ignacio Galán, Chairman said “The UK subsidiary is today a much more efficient Company as a result of Mr Horler’s efforts.”

The Board of ScottishPower comprises Ignacio Galán, Sir Tom Farmer, Rt Hon. Lord Macdonald of Tradeston CBE, Lord Kerr of Kinlochard, José Luis San Pedro, Amparo Moraleda, Fernando Becker, José Sáinz, José Miguel Alcolea and John A. Campbell.

ScottishPower was merged into the Iberdrola Group in April 2007 and is now the leading wind power generator in the United Kingdom and the third largest electricity generator. The Company's installed capacity stood at 6,852 MW at the end of the first half 2010, with electricity production up 9.2% at 14,224 million kWh.

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