SECURITIES AND EXCHANGE COMMISSIONS
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15a-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2002
SCOTTISH POWER PLC
(Translation of Registrant's Name Into English)
CORPORATE OFFICE, 1 ATLANTIC QUAY, GLASGOW, G2 8SP
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F ___
-----
(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes ___ No X
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-_____.)
FORM 6-K: TABLE OF CONTENTS
1. Announcement of Scottish Power plc, dated July 16, 2002, regarding
settlement of NEA litigation.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
/s/ Scottish Power plc
----------------------------
(Registrant)
Date July 16, 2002 By: /s/ Alan McCulloch
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Alan McCulloch
Assistant Company Secretary
[LOGO]
ScottishPower
FOR IMMEDIATE RELEASE
Contacts: Andrew Jamieson
ScottishPower - Investor Relations
(Glasgow, Scotland)
+44 (0)141 636 4527
- or -
Colin McSeveny
ScottishPower - Media Relations
(Glasgow, Scotland)
+44 (0)141 636 4515
- or -
Bob Hess
ScottishPower (Portland, Oregon)
+1 503 813 7234
- or -
Brian Rafferty
Taylor Rafferty
+1 212 889 4350
SCOTTISH POWER ANNOUNCES SETTLEMENT OF NEA LITIGATION
GLASGOW - July 16, 2002 - ScottishPower (LSE: SPW, NYSE: SPI) today announced
that British Energy (BE), Scottish Power (SP) and Scottish and Southern Energy
(SSE) yesterday agreed revised terms to the Nuclear Energy Agreement (NEA).
The revised terms are subject to regulatory approval but legal proceedings have
been suspended.
SP and SSE will pay BE the equivalent of a premium of around (pound)1.65/MWh on
purchases for the period between NETA go-live and expected BETTA go-live. Most
of this payment has already been made. Under the revised terms, SP and SSE will
now purchase electricity from BE under arrangements much more closely linked to
market prices and terms for base load energy in England and Wales.
The amended NEA will continue in operation until the introduction of the British
Electricity Transmission and Trading Arrangements (BETTA) or, if earlier, 1
April 2006. Beyond that date, SP and SSE have an option for follow-on contracts
up to 2011 at reduced volumes.
The settlement is satisfactory to all sides and the companies believe it
represents a fair and reasonable basis on which to resolve the dispute between
them.
-more-
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All three companies welcome the agreement, in that it removes uncertainty and
provides continuity and stability to the customer and supplier relationship over
the longer term.
Cautionary Statement Regarding Forward Looking Statements
Certain statements contained herein are forward-looking statements that are
subject to risks and uncertainties. These include statements concerning our
expectations and other statements that are not historical facts. In particular,
the statements regarding our expected payments for the period between NETA
go-live and expected BETTA go-live; and our price expectations for the current
financial year; are subject to various uncertainties or changes depending upon a
number of factors, including, but not limited to changes in the wholesale price
for energy; our ability, and that of our suppliers, to effectively and
efficiently operate generation facilities; unexpected generation outages;
unfavorable weather conditions that reduce demand for power; adverse economic
conditions that decrease electricity consumption; and unexpected regulatory or
legislative changes or developments affecting rates, generation costs and
environmental standards. ScottishPower undertakes no obligation to revise these
forward-looking statements to reflect events or circumstances after the date
hereof. We desire to qualify these statements for the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995.
* * *
ScottishPower's ADR, equivalent to four ordinary shares, trades on the New York
Stock Exchange under the symbol SPI. ScottishPower's ordinary shares trade on
the London Stock Exchange. Prices may be accessed on Bloomberg under the symbols
SPI and SPW LN, on the Reuter Equities 2000 Service under SPI.N and SPW.L and on
Quotron under SPWU.EU.
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