Cascal B.V. (HOO)

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Cascal N.V. Announces Publication of Bournemouth & West Hampshire Water OFWAT Business Plan
Date : 04/07/2009 @ 8:30AM
Source : PR Newswire
Stock : Cascal Nv (HOO)
Quote : 3.57 0.06 (1.71%) @ 8:00PM


Cascal N.V. Announces Publication of Bournemouth & West Hampshire Water OFWAT Business Plan





LONDON, April 7 /PRNewswire-FirstCall/ -- Cascal N.V. (NYSE:HOO) (the "Company"), a leading provider of water and wastewater services in seven countries, today announced the publication of the Final Business Plan for its largest subsidiary, Bournemouth & West Hampshire Water (BWHW), as required under the UK water industry five-year rate review that becomes effective in April 2010. The business plan was submitted to OFWAT, the economic regulator for the water industry in England and Wales, and a summary is available for review at http://www.bwhwater.co.uk/.

BWHW's Final Business Plan includes a total capital investment program of 53 million pounds Sterling over the five years and rate adjustments above inflation of 9.9% in 2010, 5.9% in 2011, 2.3% in 2012, 2.2% in 2013 and 2.1% in 2014.

The Final Business Plan is a further milestone in OFWAT's process used to determine future water rates and builds upon the 25-year Strategic Direction Statement, published in December 2007, and the Draft Business Plan published in August 2008. OFWAT will review the Final Business Plan and publish its interim rate determination in July 2009 and, following consultation with stakeholders, will set out its final rate determination in November 2009.

BWHW provides water to approximately 180,000 households and 15,000 businesses through a system of eight major treatment works and a network of 1,700 miles of pipe.

About Cascal N.V.

Cascal provides water and wastewater services to its customers in seven countries: the United Kingdom, China, South Africa, Chile, Indonesia, Panama and The Philippines. Cascal's customers are predominantly homes and businesses representing a total population of approximately 4.3 million.