‘Continued strain’ of price cap takes toll on Scottish Power profits

Scottish Power's retail arm has recorded a £12 million loss for the first quarter of 2022, with the company citing the price cap methodology as causing a strain on earnings. The company, which at the end of March served 4.8 million customers, said earnings before interest, taxes, depreciation and amortisation (EBITDA) fell by £118 million, or 111.5% year-on-year.

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