Ofwat
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Ofwat consults on the change of ownership of Yorkshire Water
Ofwat today launched a consultation into the regulatory issues arising from the change of ownership of Yorkshire Water.
In February 2008, Saltaire Water Limited completed the acquisition of Kelda Group Plc, the parent company of Yorkshire Water Services Limited.
On a change of ownership, Ofwat looks to ensure that, in the interests of consumers, the new owner is 'fit and proper' to own a regulated water company.
Ofwat invites views on the issues discussed in its consultation paper, including:
* the capacity of Saltaire Water and its investors to own a regulated water company
* which entities should provide the necessary regulatory undertakings to Yorkshire Water; and
* the need for modifications to Yorkshire Water's Appointment conditions to ensure that it has sufficient financial and managerial resources to carry out its functions as a water and sewerage company, and that it is properly ring-fenced from the rest of the group.
Yorkshire Water's existing price limits will remain unchanged from those set by Ofwat at the 2004 price review. Consumers should expect no adverse impact on the quality of service they receive as a result of the change of ownership.
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 17 July 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 protect the interests of consumers, promote value and safeguard future water and sewerage services by allowing efficient companies to carry out their functions properly, and finance them.
2. Yorkshire Water Services Limited is an appointed water and sewerage company, regulated by Ofwat.
3. The consultation paper is available on the Ofwat website, http://www.ofwat.gov.uk
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
Centre City Tower, 7 Hill Street, Birmingham, B5 4UA
