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UK water regulator cuts suppliers' return rates until 2020

Reuters - UK Focus

LONDON, Dec (Shanghai: 600875.SS - news) 12 (Reuters) - Britain's water regulator Ofwat has cut the return it will allow the country's water suppliers to make over the coming five years as it announced the final tariffs the companies can charge customers until the end of the decade.

The watchdog, which regulates water suppliers' tariffs over five-year periods, has cut the weighted average cost of capital (WACC) to 3.74 percent, down from 3.85 percent it had proposed to set in initial decisions made earlier this year.

"Companies will need to stretch themselves to deliver much more with the same level of funding as in previous years," said Ofwat Chairman Jonson Cox in a statement.

London-listed water companies affected by this decision are Severn Trent (Other OTC: STRNY - news) , United Utilities (LSE: UU.L - news) and Pennon Group (Other OTC: PEGRF - news) . (Reporting by Karolin Schaps, Editing by Paul Sandle)