PN 23/03: Ofwat consults on change of ownership for Northumbrian Water

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PN 2303	10 June 2003

Ofwat consults on change of ownership for Northumbrian Water

Ofwat today launched a consultation exercise into the recently-completed acquisition of Northumbrian Water.

New owner Northumbrian Water Group (formerly Aquavit plc) has purchased a 75% stake in the water and sewerage company, with former owner Suez retaining the remaining 25%.

Ofwat is inviting views on any regulatory issues arising from the acquisition, including the:

Ability of Northumbrian Water to finance its functions as a water and sewerage company, including its current and future capital investment programmes;
Fitness of Northumberland Water Group to be the owner of a regulated water business;
Current ring-fencing arrangements to protect the regulated business from risks associated with the activities of other group companies; and
Need for any changes in Northumbrian Water's licence to protect customers' interests.

Northumbrian Water supplies water and sewerage services to more than one million customers in the North East of England, and water services to a further 730,000 customers in Essex and Suffolk.

Note 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. WaterVoice represents customers' interests.
2. Copies of the consultation document, The Completed Acquisition of Northumbrian Water Limited, will be available from the Ofwat website on
www.ofwat.gov.uk or from the Ofwat library on 0121 625 1373.
3. Responses should be sent to Keith Mason, Director of Regulatory Finance, Office of Water Services, Centre City Tower, Hill Street, Birmingham B5 4UA (fax: 0121-625 3609), or by e-mail to keith.mason@ofwat.gsi.gov.uk to arrive no later than 5.00pm on 1 July 2003.
4. Ofwat will place all responses in the Ofwat library unless they are clearly marked "confidential".
5. Prior to the acquisition, the new owners did not control any water company. The Secretary of State for Trade and Industry is not required to refer the offer to the Competition Commission as a merger of water companies under the Water Industry Act 1991.

MEDIA ENQUIRIES TO OFWAT PRESS OFFICE ON:
0121 625 1442/1416/1496

Out of hours enquiries to pager: 08700 555 500 water 503/509. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk

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