Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Pennon Group plc    PNN   GB00B18V8630

Delayed Quote. Delayed  - 04/29 05:35:13 pm
812 GBp   --.--%
04/15 PENNON : Director/PDMR Shareholding
03/09 PENNON : *citigroup cuts pennon group to 'sell'
03/09 PENNON : *traders: citigroup cuts pennon group to 'sell' ('neutral')
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Pennon Group plc : Response To Ofwat Section 13 Notice To Modify Water Company Licences

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/23/2012 | 06:52pm CEST
Response To Ofwat Section 13 Notice To Modify Water Company Licences

23 November 2012

Pennon Group's subsidiary, South West Water, has notified Ofwat, along with the majority of the other water companies, that it is unable to accept the proposed changes to its operating Licence conditions set out in the Section 13 Notice from Ofwat dated 26 October 2012.

Whilst we support the need to make Licence changes for the next price review process in 2014 to find new and more innovative ways to deliver sustainable water and sewerage services it is believed that the Licence proposals set out by Ofwat in the Notice are not in the long term interests of customers and are insufficient to maintain investor confidence.

We welcome Ofwat's latest statement to the industry which clarifies some of the Section 13 Notice proposals.  Whilst we have not been able to consent to the proposals we have responded to Ofwat constructively on our concerns and how these can be addressed. South West Water looks forward to continuing discussions with Ofwat to achieve a mutually acceptable conclusion which will protect the interests of our investors and South West Water customers.

Pennon Group will announce its Half-Year Results to 30 September 2012 on Thursday 29 November 2012.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on PENNON GROUP PLC
04/15 PENNON : Director/PDMR Shareholding
03/09 PENNON : *citigroup cuts pennon group to 'sell'
03/09 PENNON : *traders: citigroup cuts pennon group to 'sell' ('neutral')
03/03 PENNON : European Investment Bank confirms £110m funding for Cardiff ERF
02/29 PENNON : Capital Markets Event, Building on a Strong Platform
02/29 PENNON : *socgen raises pennon group price target to 840 (810) pence - 'hold'
02/26 PENNON : *barclays initiates pennon group with 'underweight' - target 730 pence
02/26 PENNON : *traders: barclays initiates pennon group with 'underweight'
02/24 PENNON : Capital Markets Event
02/24 PENNON : Capital Markets Event – Building on a Strong Platform
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials