Glas news buoys sector

UK water regulator Ofwat finally ruled on Glas Cymru’s proposal for Welsh Water (Dwr Cymru) at the end of January. Director general Philip Fletcher announced his decision not to block the proposed sale of the Hyder subsidiary to Glas Cymru, a not-for-profit consortium of Welsh businesses and community groups which has sought to retain local control over the debt-laden water company.

Bristol-based Western Power Distribution (WPD) – itself a joint venture subsidiary of US energy companies PPL Corp and Southern Company (and more interested in retaining Hyder’s energy component) – has agreed to sell the water utility to Glas for £1.8 billion ($2.7 billion). Glas in turn would contract out the operation and maintenance of the utility. A number of other...

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