UK regulator cuts water utilities' shareholder returns [Reuters (UK)]
UNITED UTIL GRP S/ADR PLC (UUGRY)
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Source: Reuters
UK regulator cuts water utilities' shareholder returns - Reuters 2 Min Read (Reuters) - Investors in British water utilities face lower payouts after the sector regulator on Monday proposed lowering its cap on shareholder returns to their lowest level since the sector was privatised three decades ago. Top players include Severn Trent, United Utilities, Thames Water and Pennon Group Returns on invested capital will be capped at 5.02%, down from the current 6.64%, the Water Services Regulation Authority (Ofwat) said. Ofwat said the cut was about half of what it had signalled could be possible. Shares in Severn Trent, United Utilities and Pennon Group were between flat and down 1% by 0830 GMT. Pennon Group and United Utilities said in statements on Monday that they were reviewing Ofwat’s proposals. The regulator wants to encourage investment in improving or building infrastructure after British utilities faced a series of fines for broken pipes and pollution in the past year. Water provi
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