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1 May 2024 |

Forum 24 Partner Blog: Scottish Power

The one certainty in life is change

With a new First Minister for Scotland, the question of driving economic growth will undoubtedly be at the top of the in-tray. Economic prosperity for Scotland means productive businesses, well-paid jobs and thriving communities and public services.

As a clean energy powerhouse headquartered in Scotland, we have a crucial role to play in supporting a vibrant economy. A thriving, modern energy system is one of the strongest catalysts to help get Scotland and the UK growing again.

At ScottishPower, we’re ploughing billions into the economy, investing £12bn in critical infrastructure to support not only the way we live in the here and now, but the life we’ll live in the future.

In Scotland alone we’ve set out £4.3bn worth of investment in projects to 2026 to drive forward electrification. From subsea superhighways that support the transmission of electricity around the country to renewing Scotland’s wind fleet and investing in new technology like green hydrogen, EV charging, solar and heat pumps, we’re creating jobs, supply chain contracts and wider benefits for local communities.

There’s the £5.4bn procurement tender we launched in January as part of our electricity network upgrades. And the £100m plus of community benefit we’ve put into towns, cities and villages across the UK for projects they want to lead. And the 6,000 plus direct jobs and tens of thousands more we support across the supply chain. This is just our business, but the great news for the country is that others are doing the same in order to build an energy system that’s not just clean and green, but, importantly, more secure and more affordable as well.

But there are still barriers, and we need to find solutions if we’re to truly unlock the economic growth needed. We need to make it quicker and easier to get to a decision on what infrastructure is needed, and where and when it can be built.

We need to overcome the delays that can slow down grid upgrades and prevent the connections new businesses need to operate. And we need to design the right incentives for new sources of power like clean hydrogen that can transform old industries and power a cleaner future, as well as more ambitious schemes that encourage people to decarbonise at home, through solar panels, batteries and better insulation. At the same time, we also need to make sure there’s help for families who are struggling with bills or are more vulnerable as the world changes around them.

That’s the power of an organisation like Prosper. A collective of some of the best from all sectors and all industries, and those invested in Scotland’s future. Working together to drive progress, influence change and make a difference to society.

It is said that the one constant in life is change. That’s why it is so vital that as a nation we’re ready to take advantage of the opportunities that change brings. Now and in the years to come.

Keith Anderson, CEO, Scottish Power.