Welsh Water accepts Ofwat's final determination
20 Enero 2010 - 1:00AM
UK Regulatory
TIDM52IP
RNS Number : 8128F
Welsh Water Utilities Finance PLC
20 January 2010
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 GBP30 a year, 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 GBP1,200
million - equivalent to over GBP1,000 per household.
Notes for editors
According to Ofwat, Welsh Water's average household bill for the water service
(GBP155 a year) will be some 5% below the average for the sector by 2015 (GBP162
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 (GBP219 a year) will
remain above the sector average (GBP178 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
END
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