Dŵr Cymru Welsh Water
 |
|
| Limited Company | |
| Industry | Public Utility |
| Founded | 1989 |
| Headquarters | Nelson, Wales |
|
Key people
|
Chris Jones |
|
Number of employees
|
3,000 |
| Parent | Glas Cymru Ltd. |
| Website | www |
Dŵr Cymru Welsh Water (DCWW) is a company which supplies drinking water and wastewater services to most of Wales and parts of western England.
It is regulated under the Water Industry Act 1991 as amended by the Water Act 2014.
Welsh Water originated from the privatisation in 1989 of water supply and waste water arms of the Welsh Water Authority which itself had its origins in the Welsh National Water Development Authority that was created by the 1973 restructuring of the water industry in England and Wales. It took over the following public sector undertakings:
It also took over the water undertaking, sewerage and sewage disposal responsibilities of the following local authorities:
Welsh Water Authority was privatised by stock market flotation in 1989, along with the other nine regional water authorities, which provided the company with a substantial cash surplus for some years, which it used to diversify in a wide range of sectors including leisure (Hotels, Fishing etc.). It renamed itself Hyder in 1996 after taking over a local electricity company (SWALEC) and becoming a water and electricity multi-utility.
However, in 1999/2000, following the Windfall Tax on utility profits and the 1999 Ofwat price review, Hyder got into financial difficulties which led to its breakup following a takeover battle. Western Power Distribution purchased Hyder on 15 September 2000 with a view to acquiring its electricity distribution business, and rapidly sold off Hyder's other assets. Dŵr Cymru Welsh Water was sold for £1 by WPD to Glas Cymru, a company set up to own DCWW for the public benefit, along with £1.85 billion of Hyder debt [1]. Under the terms of its licence Glas Cymru, a company limited by guarantee, may not operate in sectors other than water.
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Wikipedia