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Wider industry events appear to have limited additional interest in a 30% stake in Kelda, despite an extended bid deadline.
Moody’s has warned that a sustained low interest rate environment could force some regulated UK water utilities to raise additional equity.
Ofwat, the economic regulator for the water industry in England and Wales, has countered Thames Water’s application for an interim rate hike by claiming that the company has underspent on sewer flooding and let its sewage treatment investment programme slip. Ofwat is due to release an interim decision in mid- October.
Share the gain and feel the pain.
With binding offers not due until mid-September, the sellers of 30% of Kelda’s equity have more than enough time to digest the first-round bids. What sort of premium can they expect to realise?
As part of its changing approach to the periodic review process, the regulator plans to grade companies’ business plans under a scheme which will see the best qualify for an earlier price settlement.
The economic water regulator for England and Wales is promising a fast-track system for approving water companies’ financial settlements at its forthcoming price review next year.
An application to hike tariffs to fund the purchase of land for the controversial Thames Tideway tunnel has provided further fodder for the project’s detractors. Meanwhile, pre-qualification for the main contracts is underway.
CHART OF THE MONTH - GWI DesalData’s long-range desalination market forecast Vol 14, Issue 7 (July 2013)
This month’s chart comes from our recent DesalData webinar. The green bars show our long-range desalination market forecast.
The UK-based Energy Saving Trust has just published ‘At Home with Water’, which looks at usage patterns and highlights areas where water and energy bills can be reduced.