Bristol Water PLC - Re Business Plan Submission
09 April 1999 - 2:15PM
UK Regulatory
RNS No 4406k
BRISTOL WATER PLC
9 April 1999
BRISTOL WATER PLC
BUSINESS PLAN SUBMISSION TO OFWAT
Bristol Water PLC ("Bristol Water"), the wholly owned
subsidiary of Bristol Water Holdings PLC, has today submitted
proposals to OFWAT outlining its business plan for the five
year period 2000 to 2005.
Bristol Water expects to invest over #60 million over the next
five years to comply with the new tighter water quality
standards, broadly increasing borrowings to a similar extent.
This programme includes a #26 million lead supply pipe
replacement programme as Bristol Water has a higher than
average proportion of lead pipes and the water in the
Company's area is generally plumbo-solvent. Final details of
EU monitoring methods are not yet known.
The overall investment programme will increase to around #27
million per annum. In addition, new operating costs
(estimated at an average of over #3.7 million per annum) will
arise from new legal obligations and taxes (including the
Climate Change Levy), the introduction of free meter options,
the additional costs of debt collection arising from the
banning of domestic disconnections, and securing an
improvement in the reliability of the vital source of water
from the Sharpness Canal.
Bristol Water has proposed 'K' factors of +1.5% for the year
2000/01 and +1% in each of the following four years. The
additional 0.5% in the first year reflects the company's
expectation to qualify for a small premium, due to its high
standards of service (ranked second overall by Ofwat in their
latest report).
For further information:
Jeremy Williams Lulu Bridges
Head of Corporate Affairs Tavistock Communications
Bristol Water PLC
Tel: 0117 953 6470 Tel: 0171 600 2288
or 0831 453924
END
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