PENNON GROUP PLC
30 April 2014
Draft Determination for South West Water
Following the announcement on 4 April that the 2015-2020 business plan of Pennon Group's subsidiary, South West Water Limited, was assessed as 'enhanced', Ofwat has today published a Draft Determination for South West Water which is largely based on the company's own business plan and forecasts.
An investor summary can be found on the South West Water's WaterFuture website http://waterfuture.southwestwater.co.uk/investor-summary
South West Water is now reviewing the Draft Determination proposed by Ofwat and will respond to the Regulator by the due date of 4 June 2014. Ofwat will announce its Final Determination for the company on 12 December 2014.
South West Water submitted its five-year business plan to Ofwat in December 2013, following its biggest ever consultation; a public approval rating of at least 84%; and the support of the independent WaterFuture Customer Panel.
A City conference call with Chris Loughlin, Chief Executive, South West Water; David Dupont, Group Director of Finance, Pennon Group; and Susan Davy, Finance and Regulatory Director, South West Water, will be held on Wednesday 7 May, at 9:30am to discuss the Draft Determination.
Dial-in details:
Dial-in number: +44 (0) 20 3003 2666
Password: South West Water
www.pennon-group.co.uk
