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RNS Number : 1533E
Northumbrian Water Group PLC
15 December 2009
15 December 2009
Northumbrian Water Group plc
(the Company or the Group)
Acceptance of final determination of price limits
and
Appointment of Chief Executive Officer
The Group's principal subsidiary, Northumbrian Water Limited (NWL), has considered carefully the detailed information
provided by Ofwat as part of its final determination of price limits to apply during the period from April 2010 to March
2015. The NWL board today confirmed that it does not intend to seek a referral to the Competition Commission of the price
limits published on 26 November 2009.
The Group Board has considered this decision and the financial performance of the Group's non-regulated businesses. The
Board confirms that it expects to be able to maintain its current progressive dividend policy with annual real growth of 3%
(before inflation) over the next regulatory period. The Board believes this provides shareholders with a sustainable policy
consistent with the regulatory environment within which NWL operates, while maintaining a stable financial position.
The Company is pleased to announce the appointment of Heidi Mottram as Chief Executive Officer. She will join the Company
on 1 March 2010 from Northern Rail Limited, where she has been Managing Director for five years, and will take up her new
position formally on 1 April 2010. Heidi has extensive experience of a complex regulated business with a large customer
base, having spent over 20 years managing all aspects of rail services. Earlier this year she was named Rail Business
Manager of the Year at the annual Rail Business Awards for "being an inspirational leader who makes a huge personal
difference to passengers and staff".
The Board believes Heidi's background and experience will be invaluable as Northumbrian Water strives to maintain its
position as a leading player in its sector and within the regions it serves.
For further information contact:
Northumbrian WaterJohn Cuthbert, Managing DirectorChris Green, Finance Director 0191 301 6419
Pelham PRChelsea HayesArchie Berens 020 7337 1509
This information is provided by RNS
The company news service from the London Stock Exchange