Electricity Northwest buys network operations arm from United Utilities
Electricity North West Limited which owns the north west's electricity network is to acquire United Utilities Electricity Services Limited (UUES) from United Utilities.
ENW said that by buying UUES, which is currently operates and maintains the network on its behalf, it would establish one group which owns, operates, manages and maintains its network.
The company said the purchase would allows it to address the challenges of Ofgem's latest price control and provide an efficient business structure. It promised to invest in local infrastructure and low carbon projects in the northwest. It would require new skill sets and would generate jobs in those areas of expertise.
Steve Johnson, CEO of Electricity North West, commented:
"This acquisition presents a great opportunity for Electricity North West and the north west of England. Incorporating our operations and maintenance contract into one business will reduce costs, improve efficiency and secure continued delivery of all services to customers in the region. We are already committed to a planned investment of Â£1bn over the next five years and by creating a single company we will be well placed to ensure the delivery of this vital infrastructure and support the move to a low carbon economy in the north west."
- Anglian Water accepts Ofwat’s final determination Anglian Water has become the latest company to accept the final determination set out by Ofwat.
- Severn Trent slashes dividend as it accepts final determination Severn Trent has accepted Ofwat’s final determination for PR14 and announced plans to slash its dividend by 5 per cent and...
- UU accepts Ofwat's final determination United Utilities (UU) has accepted the PR14 price control for the period 2015-2020 as set out in Ofwat’s final...