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For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

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However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

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We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Wednesday 16 October, 2013

Water Services Auth

Ofwat consults on draft decision on Thames bills

RNS Number : 5945Q
Water Services Regulation Authority
16 October 2013

 information bulletin

IB 23/13                                                                                                          16 October 2013

Ofwat consults on draft decision on Thames Water's

application to increase bills


Ofwat today published a draft decision that would disallow Thames Water's request for an interim increase in prices next year. Thames had asked to add an extra £29 or 8% to the annual average household bill. Ofwat's draft decision is subject to a short period of technical consultation, which allows for the submission of new evidence. A final decision is due in early November.


Ofwat has examined the evidence of increased costs provided by Thames Water in its August application. Under the regulatory rules, Thames must satisfactorily demonstrate that the level of increased costs is above a certain threshold to permit any additional increase in bills between five yearly price reviews.1 This threshold equates to a bill increase of around £9 or above. Having examined Thames Water's evidence, Ofwat believes their application falls below this threshold, with the company only providing sufficient evidence for increased costs associated with an annual bill increase of £7.


Ofwat's Chief Regulation Officer Sonia Brown said:

"We said we would challenge Thames Water's request. We have looked at the details and do not believe the current evidence justifies an increase in bills."


Ofwat's consultation on its draft decision gives all parties, including Thames Water, the opportunity to submit new evidence. Ofwat will consider any new evidence, which could then result in a change in its assessment of justifiable costs, before announcing its final decision in early November.


Notes to editors

1.     An application for an interim change in price limits must pass a materiality test. This test sets out that any increase in the value of relevant costs must be greater than 10% of a company's annual turnover to trigger a change in price limits.

2.     The two main areas of challenge relate to Thames' evidence of increased bad debt costs due to the economic downturn and increased costs for the transfer of private sewers. Ofwat has also looked to offset costs in the application against areas where the company has not delivered outputs for which customers have been paying. Full details of Ofwat's draft decision are available to view on 

3.     Ofwat is also continuing to look at the extent to which Thames has benefited from wider economic circumstances beyond its control, and whether it can deduct these gains through an established regulatory process called the 'substantial favourable effect' mechanism.

4.     Thames Water announced its application to further increase bills in August. Ofwat set out the process for considering Thames application in Septemberand invited initial views at that time.

5.     In 2009 Ofwat set limits on prices for the period 2010-15. Thames said that it has experienced changes to certain specific costs that were not taken account of by Ofwat, when price limits were set. The regulator's 2009 decision means Thames already has an allowance to increase its charges by 1.4% above inflation in 2014-15. Thames has indicated that its application would add around a further 8% - around £29 - to the average household bill for next year. The current average Thames household bill is around £354.

6.     As part of the five-yearly price review process Thames and the other 18 regulated water companies, will submit their business plans for 2015 to 2020 in December. Ofwat has made changes to the way it regulatesin future to make companies more efficient and customer-focused, as well as ensuring more sustainable water use. Ofwat is due to make a final decision on the future prices companies can charge by January 2015, with new bills coming into effect in April 2015.

7.     Ofwat is the economic regulator of water and sewerage companies in England and Wales. It exercises its powers in a way that it judges will protect the interests of consumers, promote value and safeguard future water and sewerage services by allowing efficient companies to carry out their functions properly, and finance them.

8.      Media enquiries to Ofwat press office on:

            - Benedict Fisher 0121 644 7642 / [email protected] 

                        - Harbinder Babra 0121 644 7616 / [email protected]

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

a d v e r t i s e m e n t