UNITED UTILITIES GROUP PLC: Ofwat's revised licence proposals United Utilities
UNITED UTILITIES GROUP PLC: Ofwat's revised licence proposals United Utilities United Utilities Group PLC
21 December 2012
OFWAT PUBLISHES REVISED LICENCE PROPOSALS FOR UNITED UTILITIES
United Utilities Water PLC (UUW) is pleased to advise that it has today received revised `Section 13' licence modification proposals from Ofwat. This follows a period of constructive dialogue between Ofwat and UUW, along with the wider water sector.
These revised licence proposals provide for the changes required to facilitate the forthcoming price review in 2014 (PR14) and set a framework for progressive evolution of regulation in the sector. In particular, these proposals focus on the expected introduction of separate price controls at PR14 for the retail and wholesale segments of the value chain. Any further changes necessary for regulatory evolution which require licence amendment would be subject to subsequent `Section 13' notices.
We welcome this progress, and the UUW Board has until 23 January 2013 to respond to these revised licence modification proposals.
United Utilities contacts:
Gaynor Kenyon, Corporate Affairs Director +44 (0) 7753 622282
Darren Jameson, Head of Investor Relations +44 (0) 1925 237033
Michelle Clarke, Tulchan Communications +44 (0) 20 7353 4200
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