Date: Thursday 05 Sep 2013
LONDON (ShareCast) - Water group Severn Trent has confirmed it has no plans to apply to regulator Ofwat for a special interim review of its 2010-2015 price limits relating to investments and costs associated with the adoption of private drains and sewers.
In its May annual results report, the group said that as a result of the adoption it had incurred infrastructure investment costs and general costs totalling £25m.
The costs associated with the 2011 transaction will be absorbed by Severn Trent Water and will not be passed on to customers.
The company is entitled to a review by the regulator of agreed price limits if there are material changes to its costs or revenues in specific areas that are set out in its licence.
Severn Trent was keen to stress that its customers "continue to benefit from the lowest average combined water and sewerage bills in England and Wales".
NR
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