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
The Suitsy: Man creates business suit onesie
Alex Salmond has announced his intention to end a 24-year career at the forefront of Scottish politics. Here is a brief look at his career.
Britain is among the least devolved countries in the world, figures from the RSA show.