At meetings today (5th January 2000), the Boards of Hyder plc and its subsidiaries Dwr Cymru Welsh Water and South Wales Electricity decided to accept price controls announced by Ofwat and Ofgem for the water and electricity distribution businesses for the period 2000 - 2005.
Group chief executive Graham Hawker said: "While we remain dissatisfied with certain elements of these very challenging controls, particularly for the water business, after detailed consideration we have concluded that the decision not to appeal to the Competition Commission is in the best interests of shareholders."
In accepting the final determination for Dwr Cymru Welsh Water the Boards took account of the recent clarification of the capital investment obligations.
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