Ofwat’s proposed changes to water companies’ licences would not be in the best interests of customers or investors, Yorkshire Water said today (Friday, November 23rd).
Chief Executive Richard Flint said, however, that Yorkshire Water remained committed to working with Ofwat and other water companies to help deliver change and had played a pivotal role in developing alternative proposals which had now been put to the regulator.
The company said it was “with regret” that it had decided to reject Ofwat’s proposed changes but there were still serious concerns about the scope of the modifications which were undermining investor confidence. This could lead to higher borrowing costs, which would drive up customer bills unnecessarily.
"This could lead to higher borrowing costs, which would drive up customer bills unnecessarily."
ReplyDeleteWould these be the borrowing costs on the £1bn loan from a group of finance companies Yorkshire water owns in the Cayman Islands?
Tax avoidance on a grand scale that Yorkshire water likes to try and keep quiet about.