Energy giants Scottish Power, owned by Spanish energy group Iberdrola, have announced their major expansion plans, which are set to boost jobs around the UK. Chairman for Iberdrola, and Scottish Power, Ignacio Galan, made the announcement that £4bn is set to be invested in UK growth, which forms 40% of their global investment funds, between now and 2014.
The investment from Scottish Power energy into the UK economy is up £1.4bn from last year, when £2.6bn was invested, creating a further 1500 jobs, through the groups 2013 to 2021 transmission network programme. That has since been fast-tracked with a third of those 1500 jobs already being filled.
The move announced this week, will see that number of jobs increase from 1500 jobs between 2013 and 2021 to an estimation of 2500 jobs between now and 2014. By 2021, it’s expected to bring the total jobs increase to 4’000 jobs.
The division of the funds will see a third of the jobs south of the border, with the bulk of jobs being ploughed into the Scottish Economy. The employment will be a mixture of both direct employment through Scottish Power, with other vacancies being created with the groups contractual partner companies.
The main job roles to be created will be in the groups networking business, to continually grow both Scottish Power and the Scottish economy.
The announcement is not set in stone for the investment to go ahead. As Scottish Power is an energy supplier, maintaining cables that keep the lights on, serving over an average of 3.5 million homes in the UK, they’re duty bound to the OFGEM regulatory board, responsible for the regulation of all energy providers in the UK.
Part of the responsibility OFGEM have is ensuring that the competition rivalry is maintained, in the best interest of consumers, to avoid unfair price hikes. The decision from OFGEM is yet to be announced, about whether or not they will approve the extra expenditure for Scottish Power, or if it will be considered to be giving an unfair competitive advantage to the energy provider. There are no signs of any problematic issues though, and the plans are expected to be given a green light.
Upon employment, graduate students and apprentices will be supported in their careers with the extensive training, which has been developed by the Scottish Power group, in partnership with local colleges and other professional training bodies around the UK.