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Ofwat published today the results of its consultation on the proposed change of ownership of East Surrey Holdings, the owner of Sutton and East Surrey Water. Kellen Acquisitions Limited, a company set up by Terra Firma Investments Limited, announced last April that it planned to acquire East Surrey Holdings. In a position note published today Ofwat sets out the regulatory issues raised by the proposed change of ownership and its views on them. It confirms Ofwat's intention to change the appointment conditions of Sutton and East Surrey Water to bring them into line with the current standard for water companies. This will further ring-fence the regulated water business from other activities carried out by its future owners, and ensure that Sutton and East Surrey Water has their co-operation in carrying out its appointment obligations. A public notice setting out Ofwat's proposed changes and inviting comment will be published in due course. Sutton and East Surrey water is the sixth largest of the 13 water-only regulated water companies with a regulatory capital value of around £140 million in 2004-05. It supplies water services to 270,000 household and business customers across the London boroughs of Croydon, Merton and Surrey, East Surrey and parts of Kent and Sussex. Notes to Editors: 1. The Director General of Water Services is the economic regulator of the water and sewerage companies in England and Wales. He exercises his powers in a way that he judges will allow them to carry out their functions properly, and finance them. 2. The position paper on the proposed acquisition of East Surrey Holdings will be available from the Ofwat website www.ofwat.gov.uk or from the Ofwat Library on 0121-625 1373. 3. Responses to the earlier East Surrey Holdings consultation, published on 27 May 2005, are held in the Ofwat Library and are available on request. 4. Media enquiries to Ofwat Press Office on 0121-625 1442/1416/1496. Out of hours enquiries to pager: 0870 0555 500 water 503/502.  | ||||||
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