Scottish Power Company Information:
The preparation for the privatisation of the state-owned Scottish Electricity industry started with the formation of Scottish Power in 1990. At the time there were two Scottish Electricity boards, The North of Scotland Hydro Board which became part of the Scottish and Southern Energy Group (Later rebranded to SSE) and the South of Scotland Electricity Board which became Scottish Power.
In 2006 Scottish Power agreed to a takeover bid from Spanish Energy Firm Iberdrola which was then completed in 2007. The takeover of Scottish Power by its now parent company Iberdrola resulted in the creation of the third-largest utility company in Europe.