Member Article

United Utilities stays above water despite pressure from Ofwat

United Utilities, a Warrington-based water company, has reported current trading is ‘in line with expectations’ despite pressure from industry regulator Ofwat.

The company’s revenue for the year is expected to be slightly higher than last year, reflecting the regulated price allowance for 2014/15 partly offset by the impact of the previously announced one-off special customer discount of around £20 million.

Customer service remains a primary area of focus for United Utilities. Under Ofwat’s key indicators, the firm’s asset serviceability performance has been “good”, with all four major asset classes rated either ‘stable’ or ‘improving’.

The company expects a “modest” increase in underlying operating profit for 2014/15, compared with last year, and as planned, there has also been a moderate reduction in infrastructure renewals expenditure this year.

This was posted in Bdaily's Members' News section by Ellen Forster .