Anglian Water’s investors are pension funds (including UK local authority pension funds), and long-term infrastructure investors and fund managers. Anglian Water reacts to Ofwat and Government challenges 16/03/2018 Anglian Water has announced moves to boost transparency and customer confidence in response to recent warnings to the industry from Environment Secretary Michael Gove and Ofwat chairman Jonson Cox. response to recent warnings to the industry from Environment Secretary Michael Gove WaterBriefing is the UK’s leading online daily dedicated news and intelligence service for business professionals in the water sector – covering both UK and international issues. Published on 2 April 2020, as required by Rule 7 of the Competition &Markets Authority Rules of Procedure for Merger, Market and Special Reference Groups (CMA17).Any revisions made to the timetable will be published on this website.
Gove said "change has to come" amid growing pressure for renationalisation as he highlighted that 95% of profit went in dividends to shareholders and hit out at "excuse-mongering" over a failure to wind-up offshore financial structures in the Cayman Islands in good time. Leading wastewater service provider Sapphire Utility Solutions has recently invested over £1 million in the creation of a new Wastewater Resolution vehicle fleet to reduce environmental impact and increase efficiency through improved equipment and specification. To register for a new account with Waterbriefing, please contact us via email at waterbriefing@imsbis.org.
Click the link in the orange box above for details. Anglian Water’s Regulatory Capital Value (RCV) growth in 2020-25 is 9.5% and 62.4% of its RCV will be indexed to CPIH in 2025. Anglian has previously been awarded ‘Utility of the Year 2018’ (Utility Week) and ‘Responsible Business of the Year 2017’ (Business in the Community). Gove said "change has to come" amid growing pressure for renationalisation, called on the sector to “hit refresh and offer a renewed commitment to customers”, Significantly speed up the removal of its Cayman Islands subsidiary, Repay an inter-company loan to simplify the presentation of its accounts (particularly around real dividends), aiming to complete this by the end of this Financial Year, Work with Ofwat on proposals to ensure it can be held to account for acting in the public interest, Change the composition of the Anglian Water Services Board so that Independent Non-Executive Directors are in the majority, and not just the largest group, Invest an extra £65M in resilience schemes not included in the company’s original plan, by 2020, to be paid for through a reduction in dividends to shareholders, Reduce dividends through to 2025, resulting in a significant reduction in the company’s level of debt and gearing. Anglian Water’s investors are pension funds (including UK local authority pension funds), and long-term infrastructure investors and fund managers. pdf, 5.20 MB | 10 Jun 2020 Download REP01-REP10 combined Anglian Water reply to Ofwat; PR19 CMA Redetermination Statement of … You can then change your password once logged in. We have a long term focus on improving the resilience of the region, and investing in infrastructure to cope with the impacts of climate change and population growth. 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Peter Simpson, chief executive of Anglian Water, said: "Over the coming weeks we will be reviewing the feedback from Ofwat regarding the final determination of our 2020 business plan. Tags: Click the link in the orange box above for details. 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Hear Bill Irvine, Lead Engineer for Portsmouth Water's £120 million Havant Thicket Reservoir project, outline the design and construction proposals for the project. 1.1 Anglian Water: a company with social and environmental purpose at its heart (2) Anglian does not recognise the company which Ofwat has portrayed to the CMA in its response to the Company's Statement of Case ("SOC") and in its subsequent presentation. But another four water companies, including Britain’s biggest, Thames Water, will have to “substantially rework and resubmit” their five-year plans and will now face increased regulatory scrutiny. Anglia Water submitted its £6.7bn plan for 2020-25 last September. Ofwat’s Final Determination offers £5,712.7m, a gap of £747.8m, with bills coming down by 10%. The plan proposed total investment of £6,460.5m. Anglian Water was also disappointed earlier this month when its attempt to force HM Revenue & Customs to return £12m in VAT that it overpaid was rejected in court. If you value what this story gives you, please consider supporting the East Anglian Daily Times. We are proud that, since the introduction of our Love Every Drop strategy in 2011, we have made terrific steps forward in operational performance, customer service and environmental stewardship. Anglian Water is the largest water and water recycling company in England and Wales by geographic area, serving more than six million customers in the east of England and Hartlepool. Alex Plant, Director of Strategy and Regulation at Anglian Water said: “We are confident we submitted a strong plan, a plan that is based on the priorities of our customers. An Anglian Water team at work detecting and repairing leaks. With all water companies expected to become more efficient, to help drive down bills, Anglian Water had proposed a 1.4pc reduction in bills. “However, Ofwat has set us some challenges around cost efficiency in particular. Home > Publications > PR19 draft determinations: Anglian Water draft determination, 1.28 MB All the water companies had to submit plans to cut bills for millions of consumers over the 2020-25 period, while reducing leaks and helping vulnerable customers. "This culminated in being named Business in the Community’s Responsible Business of the Year in 2017, but we recognise that further changes will help to strengthen trust and confidence in the water industry. you’ll need to upgrade your browser to the latest version. We already hold ourselves to the highest standards of accountability and transparency, but we must acknowledge when there is public concern and act accordingly.
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