Ofwat's revised licence proposals United Utilities

UNITED UTILITIES GROUP PLC - Ofwat's revised licence proposals United Utilities

PR Newswire

London, December 21

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 todayreceived revised `Section 13' licence modification proposals from Ofwat. Thisfollows a period of constructive dialogue between Ofwat and UUW, along with thewider water sector.

These revised licence proposals provide for the changes required to facilitatethe forthcoming price review in 2014 (PR14) and set a framework for progressiveevolution of regulation in the sector. In particular, these proposals focus onthe expected introduction of separate price controls at PR14 for the retail andwholesale segments of the value chain. Any further changes necessary forregulatory evolution which require licence amendment would be subject tosubsequent `Section 13' notices.

We welcome this progress, and the UUW Board has until 23 January 2013 torespond to these revised licence modification proposals.

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