The Board of Kelda Group plc, owners of Yorkshire water,  notes the movement in its share price and confirmed yesterday  that it has received an approach from an infrastructure consortium backed by Citigroup Alternative Investments LLC, GIC Special Investments Pte Ltd Infracapital Partners LP and HSBC Bank plc.

Ofwat has published its final Report on alternative approaches to leakage target setting.

Most water and sewerage companies continued to deliver the high standards of service that customers expected in 2006-07, but a few have fallen short, says Ofwat's 'Levels of Service report,' published today.

Regina Finn, Chief Executive of Ofwat,  has written to the Managing Directors of all water and sewerage companies and water only companies to inform them of the outcome of the review of companies' systems, procedures and controls for compliance with customer service regulations and reporting of customer service data to Ofwat.

The House of Lords Committee on Regulators today criticised Ofwat for failing to match the success of other economic regulators in introducing competition to their market. The Committee's report UK Economic Regulators concludes that UK economic regulators perform well in promoting competition and competitiveness and argues that there is no need to re-write the legislation that established them, but stresses that Ofwat (the economic regulator for the water and sewerage industry in England and Wales) needs to do more to facilitate competition in the water market.

Defra and the Welsh Assembly Government have published proposals today for delivering improved bathing water quality under the revised Bathing Water Directive. Views on these proposals are sought as part of a consultation which runs until 4 February 2008.

Ofwat gave a formal City Briefing yesterday with presentations from Philip Fletcher, Chairman  of Ofwat and Regina Finn, Chief Executive.