M&A on the horizon
Ofwat continued to make encouraging noises about M&A in the water sector with a consultation that would make it easier to get deals past the regulatory authorities. It comes too late for Pennon’s acquisition of Bournemouth Water, which is currently making its way through the existing lengthy approval process. Expect more M&A among water companies in short order.
More surprising were the reports that National Grid is looking to hive off its metering business – and perhaps even its gas distribution networks. While unconfirmed, such a sale could prove a gamechanger for the gas distribution industry, and a major opportunity for an existing or incoming player.
The Queen’s speech
While there were complaints in some quarters about the failure of the Queen’s speech to address climate change concerns, the government’s legislative agenda had different priorities. The Queen set out a plan to increase the security of gas supply through a new Energy Bill; and to fulfil the Tories’ pledge to devolve planning powers for onshore wind.
And it’s goodbye from him…
Utility Week exclusively revealed the departure of Npower’s domestic markets managing director Roger Hattam. Will the RWE-owned supplier be looking for a new strategy to haul itself up from the bottom of the customer satisfaction league tables? Given chief executive Paul Massara’s failed pledge to top the tables by this year, you might think so.