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
Scientists believe they have invented an ice cream that will melt slower in the sun.
There were shocks, tears and skimpy outfits at the star-studded MTV Video Music Awards in LA.
Ferry services from Calais have resumed in the wake of Sunday's blockade but passengers have been warned they face delays.