Ofwat has launched a consultation into the regulatory issues arising from the change of ownership of Yorkshire Water. In February 2008, Saltaire Water Limited completed the acquisition of Kelda Group Plc, the parent company of Yorkshire Water Services Limited.
On a change of ownership, Ofwat has a duty to ensure that, in the interests of consumers, the new owner is 'fit and proper' to own a regulated water company.Ofwat has invited interested stakeholders to comment on the issues discussed in its consultation paper, including:
the capacity of Saltaire Water and its investors to own a regulated water company which entities should provide the necessary regulatory undertakings to Yorkshire Water; and
the need for modifications to Yorkshire Water's Appointment conditions to ensure that it has sufficient financial and managerial resources to carry out its functions as a water and sewerage company, and that it is properly ring-fenced from the rest of the group.
Yorkshire Water's existing price limits will remain unchanged from those set by Ofwat at the 2004 price review. Ofwat state that
"Consumers should expect no adverse impact on the quality of service they receive as a result of the change of ownership."
Respondents are also invited to comment on any other issues relating to the acquisition that they consider are relevant. Responses to the consultation paper must be submitted by 17 July 2008.
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