Obscene Profiteering by Scottish Power Shareholders

That the Parliament notes that, as ordinary people across Scotland are struggling to meet increased gas and electricity prices, shareholders of Scottish Power, which increased gas and electricity prices by 15% and 8%, are being handsomely rewarded as a result of the £11.6 billion takeover bid from Spanish company Iberdrola, and that, with Scottish Power’s pre-tax profits soaring to £1875.8 million, its shareholders are laughing all the way to the bank, and believes that the only alternative to the greater and greater monopoly of world energy resources being concentrated into the hands of fewer and fewer global companies is to return gas and electricity companies to public ownership, giving the power to government to control energy prices for low-income families and ending the orgy of greed and obscene profiteering by shareholders which is now being witnessed.