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Media centre
In October 2007, Greensands Investments Limited completed the acquisition of Southern Water Capital Limited. Southern Water Capital Limited is the parent company of Southern Water Services Limited, an appointed water company regulated by Ofwat. On a change of ownership, Ofwat, in the interests of water consumers, looks to ensure that the new owner is fit and proper to own a regulated water company. Ofwat is consulting on any regulatory issues arising from the ownership change. Ofwat also proposes a number of amendments in Southern Water's 'Instrument of Appointment' to ensure it is appropriately ring-fenced from the rest of the group. Ofwat invites views on the issues discussed in this paper, including:
Respondents may also comment on any other issues relating to the acquisition that they consider are relevant. Responses to this consultation paper are required by no later than 5pm on 4 April 2008. Notes to editors 1 The Water Services Regulation Authority (Ofwat) is the economic regulator of water and sewerage companies in England and Wales. It exercises its powers in a way that it judges will allow companies to carry out their functions properly, and finance them. Its duties include protecting the interests of consumers, wherever appropriate by promoting effective competition. 2 Southern Water Services Limited is an appointed water and sewerage undertaker, regulated by Ofwat. As of March 2007 it was the seventh-largest of the ten water and sewerage companies in England and Wales. It supplies water to more than one million household and business properties and treats wastewater from nearly two million household and business customers across Sussex, Kent, Hampshire and the Isle of Wight. 3 Copies of the consultation documents are available on the Ofwat website (www.ofwat.gov.uk) or from the Ofwat Library on 0121 625 1373. 4 Responses should be sent to Emma Cochrane, Ofwat Centre City Tower, Hill Street, Birmingham B5 4UA (fax: 0121 625 3609) or by email to emma.cochrane@ofwat.gsi.gov.uk. 5.Ofwat will place all responses in the Ofwat Library unless they are clearly marked confidential. 6.Ofwat will monitor the performance of the company to ensure the change of ownership has no adverse impact on the prices they charge customers or the quality of service they receive. Media enquiries to Ofwat Press Office on: 0121 625 1416/1496/1442 Out of hours enquiries to: 0121 625 1300 Ofwat publications and press notices can be found on Ofwat's website at www.ofwat.gov.uk  | ||||||
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