http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20091126:RnsZ1239D
.
RNS Number : 1239D
Northumbrian Water Group PLC
26 November 2009
26 November 2009
Northumbrian Water Group plc
(the Company or the Group)
Ofwat announces final price limits
The Group's principal subsidiary, Northumbrian Water Limited (NWL), has received
Ofwat's final determination of price limits to be applied during the period 2010
to 2015. This is Ofwat's response to the very detailed Business Plan submitted
by NWL in April 2009 and the consultation following the draft determination
issued by Ofwat in July 2009.
Ofwat's proposals allow average annual household bills to rise, in real terms,
by �14 over the five-year period to �313 in the North East for water and
sewerage services. For water services in the area served by Essex & Suffolk
Water, the proposals see bills rise by �21 to �190. The proposals include an
investment programme of over �1.2 billion (2007/08 prices) with CIS ratios of
103 (water) and 101 (sewerage). The proposals also include challenging annual
base operating efficiency targets of 1.2% (water) and 2.4% (sewerage).
Managing Director, John Cuthbert said: "The proposed price limits are just one
part of a detailed pack of information provided by Ofwat. The NWL board need to
consider the detail carefully before reaching a conclusion on the final
determination and the Group Board will make an announcement in due course."
For further information contact:
Northumbrian Water 0191 301 6419
John Cuthbert, Managing Director
Chris Green, Finance Director
Pelham PR 020 7337 1509
Chelsea Hayes
Archie Berens
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCIIFETLTLRFIA