Severn Trent PLC (SVT) - Statement re Ofwat's consultation on s13 proposal RNS Number : 8480R Severn Trent PLC 23 November 2012 23 November 2012 Severn Trent Plc - Statement regarding Ofwat's consultation on section 13 proposal to modify companies' licences Severn Trent has today written to Ofwat regarding the proposed changes to Severn Trent Water's Licence, published on 26 October 2012. Whilst Severn Trent Water is minded to accept Ofwat's proposed change to its licence, the company believes it would be better if the current proposals were modified. In response to Ofwat's clarification note published earlier this week, the company has made constructive suggestions to overcome concerns regarding the prospect of losing 40 per cent of revenue from wholesale price controls and lack of clarity about how future prices would be controlled. The company believes that these suggested changes would still give Ofwat the flexibility required to drive the significant reform of the industry which Severn Trent continues to be supportive of. Severn Trent publishes its Interim Results to 30 September 2012 on Tuesday 27 November. Enquiries: Tony Wray Severn Trent Plc 02477 715000 Chief Executive Mike McKeon Severn Trent Plc 02477 715000 Finance Director John Crosse Severn Trent Plc 02477 715000 Head of Investor Relations Rob Salmon Severn Trent Plc 02477 715000 Media Relations Anastasia Shiach/Martha Kelly Tulchan Communications 0207 353 4200 This information is provided by RNS The company news service from the London Stock Exchange END MSCKLLFLLFFBFBE -0- Nov/23/2012 07:00 GMT
Severn Trent PLC SVT Statement re Ofwat's consultation on s13 proposal
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