February 14, 2020 / 10:31 AM / 6 days ago

UK watchdog to review water regulator's pricing proposals

Feb 14 (Reuters) - Britain’s Competition and Markets Authority said on Friday that it would review the water regulator’s proposals on pricing and other objectives for a five-year period ending in 2025, after utilities submitted appeals against them.

The Water Services Regulation Authority (Ofwat) in December set out plans including a 50 pounds reduction in average bills and a 13 billion pound ($16.95 billion) investment into the sector.

$1 = 0.7671 pounds Reporting by Muvija M in Bengaluru; Editing by Anil D'Silva

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