United Utilities Group Plc

United Utilities Group Plc

Sector: Water Supply Region: United Kingdom

: | OTC Markets: UUGWF | London Stock Exchange: UU | Frankfurt Stock Exchange: UUEC

United Utilities Group PLC is the UK's largest listed water company, with revenue of approximately £1.5 billion. The group’s subsidiary, United Utilities Water PLC (UUW), owns and manages the regulated water and wastewater network in the North West of England, serving a population of around seven million people. As part of United Utilities’ continuing focus on its core activities, the group announced in November 2010 that it had completed its non-regulated disposal programme. UUW is regulated by an independent body, Ofwat, which sets price limits every five years for the water sector in England and Wales. The current price limits took effect from 1 April 2010. Regulated revenue is set by reference to inflation as measured by the retail prices index (RPI). Price cap regulation in the UK is performance based and companies are incentivised to be efficient in terms of their operating costs and capital investment programmes. UUW’s household customers pay just over £1 per day for high quality drinking water and the removal of wastewater which is returned safely to the water environment. UUW has been funded to deliver a c£3.6bn regulatory capital investment programme during the 2010-15 period, resulting in 12% real growth in UUW’s regulatory capital value (RCV), the capital base from which water companies earn a return. The company’s investment has brought significant benefits to the region: the quality of drinking water has improved further and the region’s rivers and beaches are at their cleanest for generations. United Utilities has retained both its 'World Class' rating in the Dow Jones Sustainability Index and its 'Platinum Plus' ranking in the Business in the Community Corporate Responsibility index.
United Utilities has a robust capital structure and a sustainable dividend policy, targeting 2% per annum growth above the rate of RPI inflation through to at least 2015.

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Sustainable Catchment Management Programme

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Sustainable Catchment Management Programme


Dr John McAdam, Non-executive chairman
Qualifications: BSc (Hons) Chemical Physics, Diploma Advanced Studies in Science, PhD Appointment to the board: Appointed as a non-executive director in February 2008 and as chairman in July 2008 Committee membership: Nomination (chairman) Current directorships/business interests: Chairman of Rentokil Initial plc, senior independent director of J Sainsbury plc, non-executive director of Rolls-Royce Group plc and Sara Lee Corporation Career experience: Appointed to the board of ICI plc in 1999 and became chief executive in 2003, a position held until ICI’s takeover by Akzo Nobel.
Steve Mogford, Chief executive officer
Qualifications: BSc (Hons) Astrophysics/Maths/Physics Appointment to the board: January 2011 Committee membership: Nomination Current directorships/business interests: Non-executive director of Carillion PLC Career experience: Chief executive of SELEX Galileo, the defence electronics company owned by Italian aerospace and defence organisation Finmeccanica. Previously chief operating officer at BAE Systems PLC, and a member of its PLC board and he spent his earlier career with British Aerospace PLC.
Russ Houlden, Chief financial officer
Qualifications: BSc (Hons) Management Sciences, Fellow of the Chartered Institute of Management Accountants and a Fellow of the Association of Corporate Treasurers Appointment to the board: October 2010 Committee membership: Treasury Current directorships/business interests: None Career experience: Chief financial officer at Telecom New Zealand. Previously he was finance director of Lovells between 2002 to 2008 and prior to that was finance director at BT Wholesale, BT Networks and Information Services, ICI Polyurethanes and ICI Japan.
Alison Goligher, Independent non-executive director
Qualification BSc (Hons) Maths and Physics, MEng Petroleum Engineering. Appointment to the board August 2016. Committee membership: Nomination, audit, remuneration and corporate responsibility. Current directorships/business interests: Non-executive director of Meggitt PLC where she is a member of the audit, remuneration and nomination committees. Career experience: From 2006 to 2015, Alison worked for Royal Dutch Shell, with her most recent executive role as Executive Vice President Upstream International Unconventionals. Prior to that she spent 17 years at Schlumberger, an international supplier of technology, integrated project management and information solutions to the oil and gas industry. Skills and experience: Alison brings strong technical and capital project management skills having been involved in large projects and the production side of Royal Dutch Shell’s business. This experience of engineering and industrial sectors will provide the board with additional perspective in relation to United Utilities’ capital investment programme.

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