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Ofwat today highlighted three issues that will help shape its work for the new Water Services Regulation Authority (WSRA). Philip Fletcher, recently appointed Chairman-designate of the WSRA, told an audience of institutional investors and analysts from bond and equity markets at his regular City Briefing that Ofwat had launched consultations on:
Philip Fletcher said that it would ultimately be for the WSRA to decide upon these issues in the light of the responses received. Amongst the current topics covered by Mr Fletcher in his briefing was the planned disposal of Thames Water Utilities by RWE and its future ownership. Philip Fletcher said that, as the largest water company, the sale of Thames would raise important questions. The company faced a very large investment programme with some significant uncertainties in the future. Consequently, the new owner would need to maintain a strong financial position and credit quality for Thames. 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. His duties include protecting the interests of consumers, wherever appropriate by promoting effective competition. He will be succeeded by the Water Services Regulation Authority on 1 April 2006. MEDIA ENQUIRIES TO OFWAT PRESS OFFICE ON: 0121 625 1416/1496/1442 Out of hours enquiries to pager: 08700 555 500 water 502/503. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk  | ||||||
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