Spanish company Iberdrola plans to pull the plug on its Irish electricity and gas supply businesses, affecting about 35,000 customers.
Iberdrola was one of the more recent companies to enter the energy market in Ireland. Iberdrola started supplying electricity to Irish households in June 2019 and gas in October 2019.
Iberdrola is a Spanish company that has been around since 1992 . They operate under the Scottish Power brand in Scotland, England and Wales.
Iberdrola is one of the largest electric utilities in the world, producing electricity and supplying electricity to around 13 million retail customers.
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Iberdrola confirmed on May 31st 2022 that it would make a “controlled exit” from the retail energy supply business in Ireland.
The company blamed the decision on market conditions and prices, aggravated by an unprecedented increase in global wholesale energy costs
The Commission for the Regulation of Utilities will transfer Iberdrola gas customers to Bord Gáis Energy and electricity customers to Electric Ireland.
Iberdrola is a leader in clean energies and is currently the top renewable energy producer in Europe and a global leader in terms of installed onshore wind power.
In Scotland, England and Wales, Iberdrola operates under the ScottishPower brand, producing only 100% green electricity and focussing on wind energy, smart grids and driving the change to a cleaner, electric future.
In 1997, Scottish Power built one of the first wind farms in Ireland in Barnesmore, Donegal and now operates six wind farms across the island of Ireland .
NO SURPRISE INDEROLA,,,,,,,,,,MANY MORE WILL FOLLOW LOOK AT ALL THE BANKS THAT RAN,LEFT WITH A FEW OF OUR COUNTRY IS TOO SMALL AND POPULATION,,,,,,,THE NEXT 5 YEARS WILL SEE MANY MORE CHANGES NOT ANY GOOD FOR THE PEOPLE DONT WORRY BRUSSELS KNOW US ONLY TOO WELL
A QUESTION NOW WITH MORGAGE INTEREST RATES ON THE WAY UP WOULD IT BE PRUDENT TO LOCK YOUR INTEREST RATE IN FOR THE NEXT 5 YEARS ,,,,,,,,,YOU WILL NOT REGRET THAT DECISION.
SAVING RATES INTEREST WILL GO UP BY 2PC OVER THE NEXT 18 MONTHS ,,,,,,,BETTER THAN CLOSE TO ZERO THERE IS HOPE THERE YET