Iberdrola / NWEN merger inquiry
Source: gov.uk (2025-05-01)

The Competition and Markets Authority (CMA) is investigating the completed acquisition by Iberdrola, S.A., through its subsidiary Scottish Power Energy Networks Holdings Limited, of North West Electricity Networks (Jersey) Limited.

Statutory timetable

(*) The CMA has decided to investigate this transaction and has made an initial enforcement order (IEO). This case page will be updated when the CMA formally commences its phase 1 investigation.

Phase 1

Decision announced

20 March 2025: The CMA has cleared the completed acquisition by Iberdrola, S.A. (through its subsidiary Scottish Power Energy Networks Holdings Limited) of North West Electricity Networks (Jersey) Limited.

Full text decision (PDF, 223KB) (https://assets.publishing.service.gov.uk/media/6811f25796fbee804000854f/1._Full_text_decision_-_General_Merger_Regime_Decision.pdf) (1.5.25)

Full text decision on energy network regime (PDF, 1.3MB) (https://assets.publishing.service.gov.uk/media/6812130e0a8696a367e72755/1._Full_text_decision_on_energy_network_regime.pdf) (1.5.25)

Launch of merger inquiry

29 January 2025: The CMA announced the launch of its merger inquiry by notice to the parties.
- Commencement notice (PDF, 90KB) (https://assets.publishing.service.gov.uk/media/6798bbe1e0edc3fbb06063c0/_Commencement_notice_.pdf) (29.1.25)
Invitation to comment: closed

29 January 2025: The CMA is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has resulted, or may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

In addition, the CMA is also considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation involving an energy network merger under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation has caused, or may be expected to cause, substantial prejudice to the ability of Ofgem to make comparisons between energy network enterprises of the type involved in the energy network merger.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

Written representations about any competition issues or Ofgem’s ability to make comparisons between energy operators should be provided by the deadline set out above.

Initial enforcement order

22 October 2024: The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on 21 October 2024.
- Initial enforcement order (PDF, 172KB) (https://assets.publishing.service.gov.uk/media/67178173e319b91ef09e37fd/Iberdrola.NWEN_-_Initial_enforcement_order.pdf) (22.10.24)
Amendments / consents granted
- Derogation 3 October 2024 (PDF, 141KB) (https://assets.publishing.service.gov.uk/media/67b6e5e032b2aab18314bc07/Derogation_3_October_2024_1.pdf) (20.2.25)
- Derogation 3 October 2024 (PDF, 137KB) (https://assets.publishing.service.gov.uk/media/67b6e5fcae5d020b0914bbf5/Derogation_3_October_2024_2.pdf) (20.2.25)
- Derogation 21 October 2024 (PDF, 96KB) (https://assets.publishing.service.gov.uk/media/6728afe6f03408fa7966d09c/__Derogation_21_October_2024_.pdf) (4.11.24)
- Derogation 21 October 2024 (PDF, 132KB) (https://assets.publishing.service.gov.uk/media/6728b008541e1dfbf71e8afb/Derogation_21_October_2024.pdf) (4.11.24)
- Derogation 21 October 2024 (PDF, 105KB) (https://assets.publishing.service.gov.uk/media/6728b01af03408fa7966d09d/Derogation_21_October_2024_.pdf) (4.11.24)
- Derogation 21 October 2024 (PDF, 93KB) (https://assets.publishing.service.gov.uk/media/6728b02babb279b2de1e8af4/Derogation_21_October_2024____.pdf) (4.11.24)
- Derogation 22 October 2024 (PDF, 135KB) (https://assets.publishing.service.gov.uk/media/6728aff7fbd69e1861921ab8/_Derogation_22_October_2024_.pdf) (4.11.24)
- Derogation 22 October 2024 (PDF, 113KB) (https://assets.publishing.service.gov.uk/media/6728b03bf03408fa7966d09e/Derogation_22_October_2024.pdf) (4.11.24)
- Derogation 22 October 2024 (PDF, 114KB) (https://assets.publishing.service.gov.uk/media/6728b04cf03408fa7966d09f/Derogation_22_October_2024_.pdf) (4.11.24)
- Derogation 22 October 2024 (PDF, 119KB) (https://assets.publishing.service.gov.uk/media/6728b05cf03408fa7966d0a0/Derogation_22_October_2024__.pdf) (4.11.24)
- Derogation 22 November 2024 (PDF, 111KB) (https://assets.publishing.service.gov.uk/media/67b6e61eae5d020b0914bbf6/Derogation_22_November_2024.pdf) (20.2.25)
- Derogation 28 November 2024 (PDF, 124KB) (https://assets.publishing.service.gov.uk/media/67b6e6669ae06ef4a71cf2f7/Derogation_28_November_2024.pdf) (20.2.25)
Contact

Please send written representations about any competition or public interest to xxx@xxx.xx (mailto:xxx@xxx.xx).

Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, please see our Privacy Notice (https://www.gov.uk/government/organisations/competition-and-markets-authority/about/personal-information-charter).