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Letters to Regulatory Directors
RD 37/03 20 November 2003 Dear Regulatory Director INTEREST RATES FOR REQUISITIONS AND INFRASTRUCTURE CHARGES - TWICE-YEARLY REVIEW We set out the basis on which we approve interest rates for requisitions and infrastructure charges in a letter to companies on 9 April 1990 (FD4). The latest published value of the reference rate (10 year gross redemption gilt yield) is 4.89% (October 2003). The rates that companies must adopt from 1 November 2003 will therefore be increased from those set out in my letter of 4 April 2002 (RD 12/02). They are, for borrowing, 6.50% (water and sewerage companies) or 6.75% (water only companies) and, for deposits, 4.25%. Any queries on the content of this letter should be addressed to Suzanne Wright on 0121 625 1389. I am copying this letter to Rodney Anderson (DEFRA), June Milligan (Welsh Assembly Government) and Pamela Taylor (Water UK). Yours sincerely Paul Hope Head of Tariffs  |
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