UU agrees water bills deal with regulator
HOUSEHOLDERS across the North West are to benefit from reduced water bills in 2015/16 and below inflation water bills up to 2020.
United Utilities Group (UUG) has announced its subsidiary UUW had, after careful consideration, accepted industry regulator Ofwat’s final determination of price controls for the period covering April 1 2015 to March 31 2020.
“This determination delivers value for all of our stakeholders, with a strong focus on customer benefits, including reduced bills in 2015/16, alongside continued high levels of investment which will provide further environmental benefits and a significant contribution to the regional economy,” a statement said.
“Household customers are also set to benefit from below inflation growth in average bills for the decade through to 2020.”
“Although this is a challenging price control, we are confident that, with the plans we have in place, we can maintain and improve services for customers and provide an appropriate return for our investors,”
The company said it had delivered significant operational and customer service improvements over the last four years and the business was entering the 2015 to 2020 regulatory period underpinned by a strong platform of sustainable performance.
UU has also announced that the expected total dividend per ordinary share for 2014/15 is 37.7p and that the group will target growth in the dividend per share, from the 2014/15 base, of at least RPI inflation in each year through to 2019/20.
