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Anglian Water has today withdrawn its application for an increase in customers' bills for the remaining 12 months of the current price review period. In light of this response, Ofwat has decided to withdraw its counter notices and will not be seeking a reduction in the price limit for 2004-05. Anglian Water's price limit will be the 2.5% plus inflation set at the 1999 price review. Customers will not be disadvantaged by this. The issues set out in Ofwat's provisional decision on 12 November (see PN 45/03) will now be considered within the 2004 periodic review process. We will use net savings identified in this period to offset increases that may be needed at the start of the new price review period, in April 2005. This is in line with the preference for a more stable price profile expressed to Ofwat by WaterVoice Eastern. Note to Editors: 1. Philip Fletcher, 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. Price limits were set on 25 November 1999 for all the water and sewerage companies in England and Wales. They came into effect on 1 April 2000. Copies of 'Final Determinations: Future water and sewerage charges 2000-05' are available on Ofwat's website: www.ofwat.gov.uk and from Ofwat's library (0121-625 1373). 3. Condition B of their licences allows companies to apply for an adjustment of their price limits for certain relevant changes in circumstances affecting costs that, in total, over a number of years exceed 10 per cent of their turnover. Ofwat can also serve a counter notice if the regulator has evidence that companies have been allowed to raise money for work that may no longer be needed, or has not been carried out. MEDIA ENQUIRIES TO OFWAT PRESS OFFICE ON: 0121 625 1416/1496/1442 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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