Corporate risk manager of the year – Scottish Power

The year 2000 was difficult for Scottish Power. It had completed its acquisition of Oregon-based electric utility PacifiCorp in the waning days of 1999, just months before California’s energy crisis began battering West Coast utilities. The company then suffered the failure of a key power plant, forcing it to purchase electricity at high wholesale rates, which the region’s utility regulators required it to resell at much lower prices.

The Glasgow-based company’s troubles were compounded by its

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