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Power giants relaxed about debate

Power giants relaxed about debate
Two international energy giants said the debate over Scotland's constitutional future is not affecting their investment plans.

Two international energy giants said the debate over Scotland’s constitutional future is not affecting their investment plans.

National Grid had no evidence that the independence referendum was causing uncertainty for investors. E.on said it was not affecting its decisions at the moment. The comments were made in their submissions to the committee.

The UK Government has said the SNP’s referendum plan is causing uncertainty and risks hitting investment, while power firm SSE and Weir Group have recently raised similar concerns.

National Grid said: “We do not have any direct evidence as to whether today’s political debate is currently causing uncertainty in relation to investment.”

E.on, a major investor in renewables and in the oil and gas industry in Scotland, hoped the independence issue was resolved “relatively soon”. As for the proportion of oil and gas reserves Scotland would retain, E.on’s statement said: “We would expect oil and gas taxation revenues arising from oil and gas production in Scottish waters to accrue to the Scottish Government after independence.”

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