Iberdrola is a Spanish multinational electric utility company based in Bilbao, Spain. Iberdrola has a workforce of around 40,000 employees serving around 30 million customers. Subsidiaries include ScottishPower and a significant part of Avangrid, amongst others. As of 2023, the largest shareholder of the company is the Qatar Investment Authority, with BlackRock and Norges Bank also holding significant interests.

Scottish Power Limited, trading as ScottishPower, is a vertically integrated energy company based in Glasgow, Scotland. It is a subsidiary of Spanish utility firm Iberdrola.