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Ofwat has changed the appointment conditions of Mid Kent Water Limited to reflect its new ownership. The company undertook to act as if the revised appointment conditions were in place from the date of the acquisition by its new joint owners, Utilities Trust of Australia and Hastings Diversified Utilities. Each purchased a 50% interest in the Swan Group, the intermediate holding company of Mid Kent Water Limited, in February this year. Mid Kent Water Limited, with an average regulatory capital value of more than £170 million in 2003-04, is the fourth largest of the 13 water-only regulated companies in England and Wales. It supplies water to 245,000 domestic and business customers in Kent and parts of East 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 modifications are held on the Ofwat website at www.ofwat.gov.uk They are also held as part of the Director's register and are available for inspection at the Ofwat library. Paper copies of the modifications are available for sale at 10p per page (minimum charge £1.00) from the Ofwat Library on 0121 625 1373. 3. The position paper into the acquisition of the Swan Group, which sets out the proposed changes to the appointment conditions, is available on the Ofwat website. 4. Media enquiries to the Ofwat Press Office on 0121 625 1416/1496/1442. Out of hours enquiries to pager: 08700 555 500 water 502/503. 5. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk  | ||||||
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