July 9, 2020 / 4:52 PM / a month ago

BRIEF-UK's Ofwat Reviewing Measures Implemented Earlier, Proposes Next Steps

July 9 (Reuters) - UK’S Ofwat

* REVIEWING TEMPORARY MEASURES IT IMPLEMENTED DURING SPRING AND HAS TODAY PUBLISHED A CONSULTATION ON ITS PROPOSALS FOR NEXT STEPS

* CONSULTING ON TWO PREFERRED OPTIONS FOR LIQUIDITY SUPPORT

* CAPS MAXIMUM AMOUNT OF TOTAL WHOLESALE CHARGES THAT CAN BE DEFERRED AT NO HIGHER [OR LESS] THAN AMOUNTS SET OUT IN ITS APRIL DECISION

* PROPOSING NO EXTENSION OF LIQUIDITY SUPPORT AFTER JULY 2020, FROM AUGUST, RETAILERS WILL NO LONGER HAVE OPTION TO DEFER WHOLESALE CHARGES

* DEFERRED WHOLESALE CHARGES NEED TO BE REPAID IN FULL BY END MARCH 2021

* PROPOSING LIFTING TEMPORARY SUSPENSION OF INVOICING AND PAYMENT OF MARKET PERFORMANCE CHARGES

* IN CASE OF DISAGREEMNT 33% OF ALL DEFERRED CHARGES TO BE REPAID BY END NOV 2020 AND 66% WILL NEED TO BE REPAID BY END JAN 2021 Source text for Eikon:

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