Pennon agrees to new licence changes

LONDON (ShareCast) - Utilities group Pennon said Thursday that its subsidiary, South West Water, has accepted the Section 13 notice issued on December 21st last year, which proposed changes to its licence as a water and sewerage undertaker.

The proposals, which relate in particular to the next price review process in 2014, were prepared as a result of extensive constructive discussions between water regulator Ofwat and water companies following the previous Section 13 notice issued in October 2012.

"South West Water welcomes the significant changes which have been made to the previous proposals," it said.

The share price dipped 0.31% to 652.50p by 08:30.