United Utilities's U.K. Water Investments Increase 10%
United Utilities Plc (UU/), the U.K.’s largest publicly traded water company, said investments including infrastructure upgrades for the year ending March rose 10 percent to 750 million pounds ($1.1 billion)
The utility increased spending from 680 million pounds a year earlier to improve service and environmental benefits, Warrington-based United Utilities said today in a statement. Revenue is expected to rise “slightly below” the allowed regulated price rise for the year, with debt higher than Sept. 30 largely from capital investments, according to the statement.
British water utilities are awaiting a decision from U.K. regulator Ofwat on how it plans to set limits on prices they can charge customers for the five-year period starting 2015. That’s expected in the middle of the year with decisions on new price limits due at the end of 2014.
To contact the reporter on this story: Louise Downing in London at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com