ScottishPower has apologised unreservedly to customers affected by misselling by doorstep and telesales agents.
ScottishPower's chief executive of energy retail and generation, Neil Clitheroe, said he was "happy that this matter has now been concluded".
Mr Clitheroe said in a statement: "I am pleased that Ofgem has made it clear that they found no evidence of a strategy by ScottishPower to deliberately missell to customers.”
More top news
A 16-year-old boy has been arrested on suspicion of terror offences as he prepared to leave the UK.
An man is reported to have wounded at least five people - two seriously - in an attack in the Swiss town of Schaffhausen.
Donald Trump's son-in-law has denied any improper conduct during four contacts with Russians during and after the presidential election.