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Wednesday 20 January, 2010

WelshWater Utilities

Welsh Water accepts Ofwat's f

RNS Number : 8388F
Welsh Water Utilities Finance PLC
20 January 2010
 



The following amendment has been made to the 'Welsh Water accepts Ofwat's final determination' announcement released on 20 January 2010 at 07:00 under RNS No 8128F 

The second paragraph has been reworded.

All other details remain unchanged.
 
The full amended text is shown below.
 


NEWS FROM WELSH WATER

Welsh Water accepts Ofwat's final determination of price limits to 2015

On 26 November 2009, the water industry regulator, Ofwat, published its Final Determination of price limits, service standards and investment allowances for the period to 2015.  Following careful consideration, we have decided not to appeal against the determination to the Competition Commission.

On average, household bills for our water and sewerage customers will fall by some £30, before inflation, over the period to 2015. However, the impact on the bills of individual customers will vary.  During that period, we are planning to carry out a capital investment programme of some £1,200 million - equivalent to over £1,000 per household.

Notes for editors

According to Ofwat, Welsh Water's average household bill for the water service (£155 a year) will be some 5% below the average for the sector by 2015 (£162 a year), a dramatic change from the position in 2001, when Welsh Water's average bill was some 22% above the sector average. In 2001, Welsh Water was taken over by Glas Cymru and transformed into a not for profit entity, operated for the sole purpose of delivering better value for money to its customers.

The expected average bill in 2015 for the sewerage service (£219 a year) will remain above the sector average (£178 a year), in line with other water companies with significant coastlines, reflecting the major investment in coastal wastewater treatment sites that was carried out by these companies post privatisation.

Ofwat calculates these average household bills at 2009-10 prices.

Our continued high level of investment will result in substantial improvements to the protection of drinking water quality, a major expansion in renewable energy generation through the digestion of sewage sludge and a significant reduction in the number of properties at risk of repeated sewage flooding.

Enquiries to the Dwr Cymru Welsh Water press office on 029 2055 6140





This information is provided by RNS
The company news service from the London Stock Exchange
 
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