671 articles in United Kingdom
The slowing of the rate of expansion of the international private water sector is primarily due to the demand side, but the supply side has also faltered.
By leveraging up, water companies have turned the tables on the regulator.
It says something about the naivety of the UK regulator that in response to the trend towards highly leveraged water companies in England and Wales, he commissioned a study – published last month – on the extent to which he should take capital costs into account in price regulation (see report, p.14).
Vivendi is still tied up in the process of acquiring the UK’s Southern Water.
This is first issue of Global Water Intelligence to be published by Media Analytics Ltd, however the only difference that readers are likely to notice is the loss of the CWC Group logo on every page. Peter Allison continues as editor with his familiar network of contributors.
September concluded one of the worst quarters in the last 50 years. Ending on a particularly sour note, several major blue-chip companies issued profit warnings that sent a shockwave through US markets.
Following a two-year buying spree which has affected all four of its core business sectors – water, electricity, gas and environmental services – chairman of the RWE executive board Dietmar Kuhnt says the group will now take a breather on acquisitions to focus on the integration of new companies and on maximising synergies.
ANGLIAN WATER SERVICES (AWS), AWG’s ring-fenced utility business, has completed an issue of £1.76 billion of new debt. This brings AWS’ gross borrowings up to £3.48 billion, including £1.72 billion of debt which existing debt holders have agreed to transfer.
Thames Water has agreed to purchase majority stakes in two water businesses from the Spanish electricity group, Iberdrola Diversificacion.
Crumbling investor confidence stemming from accounting scandals in the US sent global markets reeling last month.