UNITED Utilities will submit the final draft of its five-year spending plan to watchdog Ofwat on April 7.
And the Warrington-based group said it will take into account customers’ ability to pay their bills in the current economic downturn, just as much as the increased cost of borrowing to fund its huge investment in network improvements.
The plan will outline the level, above inflation, the company proposes to raise customers’ bills each year between 2010 and 2015.
But chief executive Philip Green revealed that, while UU spent £700m this year on infrastructure and improvements, it is fully funded until at least mid-2011.
And the non-regulated arm has forward orders of more than £6bn which, Sir Philip said, “provides long-term income streams for the group”.
In a trading update, he said UU was on track to deliver results in line with expectations.
Its shares closed down 2.74%, at 496.50p.
But Broker Pali International said it was increasing its pre-tax profit forecast to £510m from £502m.
