Scottish Power reported a 41% rise in pre-tax profits, as regulatory pressures were relieved and the cost of their American acquisition reduced on the back of a sale. Scottish Power have also increased their customer base which given the way that other competitors have increased prices is no great surprise. However, Betta (British Energy Trading Arrangements) will have an effect on the Scots with the likelihood of increased competition and the possibility of the Scots no longer having a capative market of their own. Furthermore the results do not go into the detail of IAS39 accounting standards, this may well mean that if SP are short they have not mark to marketed the loss, if power prices come down then this skeleton will remain in the cupboard, but eventually if power prices stay high they may well have a nasty surprise for investors. This is pure speculation but it seems odd that a company of that size does not report its trading position when a large proportion of the business will be based on trading.

The market lost ground in the prompt, and gained further along the curve, the power price is under some pressure in the prompt and even with gas and oil rising in the long term, the fundamentals suggest that there is more than enough power to supply customer needs