UPDATE 1-UK watchdog to review water regulator's pricing proposals [Reuters]
UNITED UTIL GRP S/ADR PLC (UUGRY)
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Source: Reuters
UPDATE 1-UK watchdog to review water regulator's pricing proposals (Adds company statements, background) Feb 14 (Reuters) - Britain’s Competition and Markets Authority (CMA) said on Friday that it would review pricing proposals by the Water Services Regulation Authority (Ofwat) after some utilities appealed against the plan. Ofwat in December had proposed a 50 pound cut in average bills, a 13 billion pound ($16.95 billion) investment in the sector and a cap on utilities’ shareholder returns. So far, Northumbrian Water, Yorkshire Water and Anglian Water have sought a review of Ofwat’s proposals, while listed companies such as United Utilities, Severn Trent and South West Water owner Pennon have accepted them. Anglian Water said it was asking the CMA to consider if the right balance had been struck between bill reductions and investment. The CMA said it expects Ofwat to give it six months to complete the review. “It’s really important that customers’ bills are not set too high, but at t
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