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Dee Valley Group PLC (DVW)

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Tuesday 19 January, 2010

Dee Valley Group PLC

Response to Final Determinati

RNS Number : 7246F
Dee Valley Group PLC
19 January 2010
 



Dee Valley Group plc 
Response to Final Determination of Price Limits

 

The Board has carefully considered the detailed information provided by Ofwat on 26 November 2009 as part of its Final Determination of price limits, to apply from 2010 to 2015. Ofwat's proposals would mean a maximum increase in the average household bill for water from £128 in 2009/10 to £130 in 2014/15 (excluding the effects of inflation). During this period Dee Valley Water plc, the Group's operating subsidiary, will be investing around £34 million, most of which will be on the maintenance of its assets.

Following a detailed analysis of the proposals, the Board has decided that it will not be seeking a referral of Ofwat's decision to the Competition Commission.

The Board has also considered its dividend policy in the light of the above decision and of its non-regulated business. In the absence of unforeseen circumstances, it is the Board's intention to continue with the current policy of at least maintaining dividends in real terms over the five-year period from 2010.

            Enquiries:


            Dee Valley Group plc        Norman Holladay (Managing Director)

            Tel. 01978 846946           David Guest (Finance Director)


            Evolution Securities Ltd.    Tim Worlledge

            Tel. 020 7071 4300          Tim Redfern




    



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