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Thursday 15 April, 2004

States of JerseyTres

Statement re JNWW

States of Jersey Treasury
15 April 2004

                                 Press Release


                                15th April 2004


                             For Immediate Release


Jersey Electricity Company Limited's Proposal for Jersey New Waterworks Company
                                    Limited


Following the interest expressed in acquiring the Jersey New Waterworks Company
Limited, (JNWW) the Finance and Economics Committee has decided not to support
the current proposal made by the Jersey Electricity Company Limited (JEC).


The Committee has made this decision based upon independent professional advice
taken from PricewaterhouseCoopers and is now proposing to undertake a Strategic
Review of the future of the JNWW business.


That Review will clarify and consolidate the objectives of the States in respect
of the provision of water services and the regulation of those services. It will
also identify the most cost effective and efficient means of providing that
water service by examining, amongst other elements, engineering, ownership and
organisational issues and any synergies in providing sewerage and water services
through one organisation.


The Committee looks forward to working closely and in cooperation with other
States Committees, the Board of Jersey New Waterworks, its workforce and other
stakeholders in bringing forward this Review, which will commence shortly with
final results being available later this year.


The Committee recognises and is grateful to the workforce of JNWW in achieving
the high quality and service standards currently enjoyed by Islanders and looks
forward to the workforce's input in achieving the standards required for the
future.


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