GLASGOW, United Kingdom, May 7, 2003 (PRIMEZONE) -- Scottish Power (NYSE:SPI) (LSE:SPW) is pleased to announce that it has reached a seven-year agreement with Peel Holdings, owners of Clydeport, for the management of imported coal deliveries to Longannet Power Station. The deal is estimated to generate GBP70m of incremental value over its seven year term.
Charles Berry, Executive Director, UK, said: "This is an excellent deal for ScottishPower and provides a robust solution for our coal supply in Scotland, in partnership with Clydeport. By entering into a longer term deal, we have been able to unlock significant value for our generation business through reduced costs and more efficient operations."
This information is provided by RNS, the company news service from the London Stock Exchange.