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Idaho Approves ScottishPower-PacifiCorp Merger

16 November 1999

ScottishPower and PacifiCorp announced they have received merger approval from the Idaho Public Utility Commission (IPUC), the fifth of six state regulatory approvals required for the merger to be completed. In addition, the merger has obtained all federal approvals. An order is pending in Utah, and Wyoming has verbally approved the merger, subject to the issuance of a written order.

ScottishPower Chief Executive Ian Robinson said: "We are delighted to have won approval from Idaho and, with only one state approval still to be obtained, the transaction is firmly on track for completion this year."

PacifiCorp serves some 53,700 customers in Idaho.


Further Information:
Colin McSeveny,            Group Media Relations Manager     0141 636 4515
Iain Paterson,               Investor Relations Manager      0141 636 4527

Editor's notes:

  1. In August, the merging companies offered an additional guarantee to Idaho retail tariff customers that will result in a merger credit directly payable on customers' bills of $1.6 million per year for four years. The merger credit, totalling $6.4 million, will commence in January 2000, assuming all merger approvals are received this year. The merger credit will reduce retail tariff customer bills 1.7 percent, which is the same percentage offered by the companies in other states.
  2. The merger has already been approved by shareholders of both companies and by the U.S. Federal Energy Regulatory Commission. It has been cleared in the U.S. under the Hart-Scott-Rodino Antitrust Improvements Act, and by the Nuclear Regulatory Commission, and has received regulatory approval in the United Kingdom and Australia.
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