Water firms lobby Ofwat over pricing October 4, 2009 WATER companies are lobbying regulator Ofwat in a bid to convince it to relax plans for a strict pricing regime. The change could see the average yearly bill fall by £14 before inflation to £330 a year. Bosses from the firms met with Ofwat chief executive Regina Finn last week and pleaded for the proposals [...]
Severn Trent slashes dividend January 19, 2010 WATER company Severn Trent yesterday warned it will cut its dividend by 10 per cent as a result of regulator Ofwat’s “tough” price ruling. The company, which serves more than 8m customers in the UK, has been told by the regulator to cut average household bills by four per cent in real terms by 2015. [...]
Water firms hit by Ofwat July 23, 2009 SHARES in utility companies dropped yesterday after water regulator Ofwat ordered firms to reduce household bills by four per cent over the next five years, potentially denting profits massively. Analysts warned that Ofwat’s price limits combined with new requirements on infrastructure spending would see dividends slashed across the sector. Water firms had hoped to raise [...]
Water firms hit by Ofwat July 23, 2009 SHARES in utility companies dropped yesterday after water regulator Ofwat ordered firms to reduce household bills by four per cent over the next five years, potentially denting profits massively. Analysts warned that Ofwat’s price limits combined with new requirements on infrastructure spending would see dividends slashed across the sector. Water firms had hoped to raise [...]
Ofwat to rule on water firms July 22, 2009 Water company investors are today bracing themselves for fresh pressure on dividends as the industry regulator Ofwat prepares to set caps on water bills paid by 26m households for the next five years starting from 2010.
United Utilities gets a lift as dividend cut reassures January 21, 2010 United Utilities shares surged four per cent to top the FTSE 100 risers yesterday. The rise of 21p to 529.5p came after the water firm vowed to cut dividends in the next financial year by just 12.5 per cent. Analysts had predicted a cut of over 20 per cent. The UK’s largest water firm will [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
Bill cuts will drain Thames Water payout November 23, 2009 THAMES WATER would be forced to abandon paying a dividend altogether if the water regulator does not alter its push for lower bills. The UK’s biggest water supplier has informed its owners, Macquarie Bank of Australia and a range of pension funds, that they face missing out on a £200m return next year, a source [...]
Severn Trent sales stable January 26, 2010 RECESSION-hit water customers are getting to grips with bad debts and have eased efforts to cut back on water use, utility Seven Trent said yesterday. Debt owed to the firm by customers stayed at about 2.3 per cent of turnover between 1 October last year and 25 January, the level at the end of the [...]