Bristol Water PLC Review of Ofwat's Final Determination (2090E)
06 Febbraio 2015 - 8:00AM
UK Regulatory
TIDMBWRA
RNS Number : 2090E
Bristol Water PLC
06 February 2015
BRISTOL WATER plc
Announcement of decision to seek review of Ofwat's Final
Determination
Bristol Water has decided to reject Ofwat's latest price
determination and will be seeking a review by the Competition and
Markets Authority (the CMA).
The Final Determination, published on 12 December 2014, sets the
allowed levels of total expenditure and investment companies can
make to improve and protect water supplies. It also set the price
controls which apply to companies' retail and wholesale activities
and which determine the level of customers' bills over the next
five years.
Ofwat set the allowed level of total wholesale expenditure for
Bristol Water at GBP409m and reduced the average household bill
from GBP197 to GBP162 in the first year followed by four years of
GBP152; this amounts to a 23% reduction (figures are based 2012/13
price base).
Bristol Water's business plan for 2015 to 2020 had proposed
wholesale expenditure of GBP541m and a reduction in average
household bills of 4.5%, or GBP9 in real terms, to GBP188.
For further information contact Bristol Water Corporate Affairs
on 0117 9536470 during office hours or 07831 518964 or 07554771538
out of hours.
www.bristolwater.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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