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5 years ago
Ofwat chairman Jonson Cox has dismissed fears over the financeability of water companies in the wake of PR19, accusing managements of using the threat of credit rating downgrades to put pressure on the regulator. Cox's comments came as Ofwat revealed the results of its annual investor survey.
As the stock markets suffered a bloodbath, analysts have pointed to the resilience of water companies and the National Grid. They have also given their views on the 17 per cent fall recorded by Centrica.
Ofwat chairman Jonson Cox remarked on the divide between listed companies and private equity in the water sector, praising the “full transparency” and “market feedback” offered by the former. He also commented on whether he would consider building advantages for listed companies into the regulatory regime.
In our weekly review of the national newspapers, there is a report on the biggest drop in carbon emissions from the global electricity system for almost 30 years; Hitachi appeals to the government over funding for nuclear projects and Centrica calls time on the term ‘gas man’.
With obvious consequences of the coronavirus outbreak being seen across the world this week, what are the key issues for UK utilities? Utility Week examines the impact on workforce, customers and the retail market, among others.
Sir John Armitt warned Utility Week’s Investor Summit that the new chancellor may not feel confident enough to publish the National Infrastructure Strategy alongside next week’s Budget. The comments from the chair of the National Infrastructure Commission came hours before suggestions emerged in the national press that the government was delaying the project. Publication is now expected to occur in May.
Specialists advising the water sector on its goal to reach net-zero carbon emissions by 2030 have said collaboration will be needed both within and beyond the industry to deliver the necessary innovation.
Ecotricity’s founder Dale Vince is backing a legal bid to force the government to review the planning policy statement that underpins new energy infrastructure projects. Vince, along with two other listed claimants, wants the government to re-examine the Energy National Policy Statement (NPS) on the grounds that it is out of date and does not reflect recent shifts in the UK’s climate change policy and international commitments.
