‘Regret’ over failure to investigate Dee Valley Water takeover bid

The decision of the Competition and Markets’ Authority not to conduct an in-depth investigation into the proposed takeover of Dee Valley Water by Severn Trent is “a matter of deep regret” according to Plaid Cymru North Wales AM Llyr Gruffydd.

Mr Gruffydd said: “Prior to the Water Act 2014, a Phase 2 investigation into such a takeover in the water industry would have been compulsory and it’s a matter of deep regret that the goalposts have been moved by the UK Government on this matter.

“This proposed takeover of Dee Valley Water will cost jobs, hit local suppliers and damage the economy of north-east Wales. It will also mean the end of a 150-year-old company that leads the industry in terms of its customer care and quality.

“A successful takeover would also raise broader questions about control of the Welsh water industry and whether water services in Wales are best run from here or from Coventry. I’m in no doubt that this is a crucial natural resource for Wales as well as an important local employer that needs safeguarding. That’s why I’ve been supportive of the staff’s concerns from day one and want to see the company retain its independence.

“The CMA should re-think its decision in the light of proposals to devolve more power over water to the Welsh Government from 2018. No decision should be permitted without taking that into consideration and that means a thorough investigation.”

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