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Utility Capital Expenditure - UK - December 2016

“The approach to infrastructure investment is in transition across the utility industry. Whereas spending was previously mainly output-driven, future investment decisions will be increasingly centred on innovation, asset optimisation and long-term outcomes. Operators will also be challenged by rising pressure from industry regulators to reduce costs for consumers, which highlights the importance of cost efficiencies in capital investment decisions.

Although changes in the regulatory framework are likely to restrict traditional network investment, they also provide opportunities for the supply industry, particularly for companies offering innovative solutions and new technologies that facilitate efficient and optimised asset management. The strongest growth is expected in the energy networks sector, driven by rising electricity demand versus the closure of generation capacity, changes in the energy mix and the growth of low-carbon technologies.”

Claudia Preedy - B2B Analyst

This report answers the following questions:

  • What does the shift towards total expenditure (Totex) and long-term outcomes in AMP6 mean for the water and sewerage industry?
  • What are the implications of Brexit on the UK water and sewerage sector?
  • Will the UK's decision to leave the EU affect the country's renewable energy generation and decarbonisation targets?
  • What are the key drivers for investment and challenges facing the electricity transmission sector?
  • What are the key drivers for replacement expenditure by gas distribution network operators?

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Table of contents

  1. Executive Summary

      • The market
        • Water and sewerage sector
          • Figure 1: UK capital expenditure on water and sewerage services, 2010/11-2014/15
        • Electricity transmission and distribution industry
          • Figure 2: Forecast network investment of the electricity distribution network operators in Great Britain, 2015/16-2022/23
          • Figure 3: Capital expenditure by the electricity transmission industry in Great Britain, 2011/12-2015/16
        • Gas transmission and distribution industry
          • Figure 4: Total gas transmission and distribution capital expenditure, 2011/12-2015/16
        • Market factors
          • Utility industry regulation
            • Legislative factors
              • Companies
                • What we think
                • Key Insights

                    • What does the shift towards total expenditure (Totex) and long-term outcomes in AMP6 mean for the water and sewerage industry?
                      • What are the implications of Brexit on the UK water and sewerage sector?
                        • Will the UK’s decision to leave the EU affect the country’s renewable energy generation and decarbonisation targets?
                          • What are the key drivers for investment and challenges facing the electricity transmission sector?
                            • What are the key drivers for replacement expenditure by gas distribution network operators?
                            • Introduction

                                • Definitions
                                  • Water and sewerage
                                    • Electricity transmission
                                      • Electricity distribution
                                        • Gas distribution
                                          • Gas transmission
                                            • Methodology
                                              • Abbreviations
                                              • Market Positioning

                                                  • Customers
                                                    • Suppliers
                                                      • Market factors
                                                      • UK Economy

                                                        • Overview
                                                          • Figure 5: UK GDP quarterly development, 2003-16
                                                          • Figure 6: UK GDP in economic downturns and recoveries since 1979
                                                        • Inflation
                                                          • Interest rates
                                                            • House prices
                                                              • Figure 7: UK house price changes, 2004-16
                                                            • Consumer spending
                                                              • Manufacturing
                                                                • Figure 8: UK manufacturing, 2014-16
                                                              • Business investment
                                                                • Figure 9: UK GFCF 2003-16
                                                              • Imports
                                                                • Exports
                                                                • Water and Sewerage Industry

                                                                  • Key points
                                                                    • Industry regulation
                                                                      • Legislative environment
                                                                        • European Water Framework Directive (WFD)
                                                                          • Urban Waste Water Treatment Directive (UWWTD)
                                                                              • Figure 10: Sewerage treatment enhancement expenditure driven by UWWTD in England & Wales, 1990-15
                                                                              • Figure 11: Sewerage treatment enhancement expenditure driven by UWWTD in England and Wales, 1990-2015
                                                                            • The Drinking Water Directive
                                                                              • Revised Bathing Water Directive
                                                                                  • Figure 12: UK coastal bathing water compliance with the 2006 Bathing Water Directive for 2015
                                                                                • Implications of Brexit on the UK water and sewerage sector
                                                                                  • Transfer of private sewers in England and Wales
                                                                                    • Figure 13: Capital expenditure on private sewers in England and Wales, by water and sewerage company, 2012-15
                                                                                  • The Flood and Water Management Act 2010
                                                                                    • Water Act 2014 to open up water and sewerage retail competition for all business customers in 2017
                                                                                    • Water and Sewerage Capital Expenditure

                                                                                      • Key points
                                                                                        • Total capital expenditure
                                                                                          • Figure 14: Total capital expenditure by water and sewerage companies in England and Wales, 2005-10 and 2010-15
                                                                                          • Figure 15: Total capital expenditure by water-only companies in England & Wales, 2005-2010 and 2010-2015
                                                                                        • Contracts for AMP5 tendered early to reduce boom and bust cycle
                                                                                          • Figure 16: Actual UK capital expenditure on water and sewerage services, 2009/10-2014/15
                                                                                          • Figure 17: UK capital expenditure on water and sewerage services, 2010/11-2014/15
                                                                                          • Figure 18: UK capital expenditure on water and sewerage services, 2010/11-2014/15
                                                                                          • Figure 19: UK capital expenditure on water and sewerage services, 2015/16
                                                                                        • Sewerage-related capital expenditure
                                                                                          • Figure 20: Analysis of sewerage-related capital expenditure in England and Wales, by company, 2010/11-2014/15
                                                                                          • Figure 21: Analysis of sewerage-related capital expenditure, by water and sewerage companies in England and Wales, 2010/11-2014/15
                                                                                          • Figure 22: Analysis of sewerage-related capital expenditure, by water and sewerage companies in England and Wales, 2015/16
                                                                                          • Figure 23: Analysis of sewerage capital expenditure in England and Wales by water and sewerage companies, by type, 2011/12-2014/15
                                                                                          • Figure 24: Analysis of sewerage capital expenditure in England and Wales by water and sewerage companies, by type, 2015/16
                                                                                        • Water-related capital expenditure
                                                                                          • Figure 25: Analysis of water related capital expenditure, by water and sewerage companies in England and Wales, 2010/11-2014/15
                                                                                          • Figure 26: Analysis of water-related capital expenditure, by water and sewerage companies in England and Wales, 2010/11-2014/15
                                                                                          • Figure 27: Analysis of water-related capital expenditure, by water and sewerage companies in England and Wales, 2015/16
                                                                                          • Figure 28: Analysis of water capital expenditure in England and Wales, by water and sewerage companies, by type, 2011/12-2014/15
                                                                                          • Figure 29: Analysis of water capital expenditure in England and Wales, by water-only companies, by type, 2011/12-2014/15
                                                                                          • Figure 30: Analysis of water capital expenditure in England and Wales by water and sewerage companies, by type, 2015/16
                                                                                          • Figure 31: Analysis of water capital expenditure in England and Wales, by water and sewerage companies, by type, 2015/16
                                                                                          • Figure 32: Analysis of water capital expenditure in England and Wales by water only companies, by type, 2015/16
                                                                                          • Figure 33: Analysis of water capital expenditure in England and Wales, by water-only companies, by type, 2015/16
                                                                                        • Scottish Water capital expenditure
                                                                                          • Figure 34: Analysis of Scottish Water capital expenditure on water and sewerage services, 2011/12-2015/16
                                                                                          • Figure 35: Analysis of Scottish Water capital expenditure on water and sewerage services, 2011/12-2015/16
                                                                                          • Figure 36: Progress of Scottish Water to date in the five year investment programme 2010/15
                                                                                        • Northern Ireland capital expenditure
                                                                                          • Figure 37: Analysis of Northern Ireland Water capital expenditure on water and sewerage services, 2011/12-2015/16
                                                                                      • Water and Sewerage Future Capital Expenditure

                                                                                        • Key points
                                                                                          • Future challenges facing the water and sewerage sector
                                                                                              • Figure 38: UK population, by region, 2014-36
                                                                                            • Water Act 2014 to provide new opportunities for water and sewerage companies
                                                                                              • Forecast capital expenditure
                                                                                                • England and Wales - AMP6 2015-20
                                                                                                  • Figure 39: Average expected combined household bill, by water and sewerage companies, 2014/15 and 2019/20
                                                                                                  • Figure 40: Average expected household water bill, by water-only companies, 2014/15 and 2019/20
                                                                                                • AMP6 Expenditure Allowances
                                                                                                  • Move towards long-term alliances and frameworks across industry
                                                                                                    • Figure 41: Total expenditure (Totex) allowance for AMP6 in England & Wales, by water and sewerage company, 2015/16-2019/20
                                                                                                    • Figure 42: Total expenditure (Totex) allowance for AMP6 in England and Wales, by water and sewerage company, 2015/16-2019/20
                                                                                                    • Figure 43: Forecast capital expenditure for AMP6 in England and Wales, by water and sewerage company, 2015/16-2019/20
                                                                                                    • Figure 44: Forecast capital expenditure for AMP6 in England and Wales, by water only company, 2015/16-2019/20
                                                                                                  • Thames Tideway Tunnel
                                                                                                      • Figure 45: Estimated cost of Thames Tideway Tunnel, 2014/15-2021/22+
                                                                                                    • Other capital investment plans by water and sewerage companies during AMP6 include:
                                                                                                      • Scotland Investment Programme 2015-2021
                                                                                                        • Figure 46: Forecast capital expenditure for Scottish Water, 2015/16-2020/21
                                                                                                      • Northern Ireland Investment Programme 2015/16-2020/21
                                                                                                      • Electricity Industry

                                                                                                        • Key points
                                                                                                          • Electricity industry market factors
                                                                                                            • Price controls
                                                                                                              • UK committed to reduce carbon emissions by 80% below 1990 levels by 2050
                                                                                                                • Carbon budgets
                                                                                                                  • Brexit vote raises uncertainties over UK carbon reduction and renewables targets, though the government remains committed to tackling climate change
                                                                                                                    • Climate Change Levy
                                                                                                                      • Climate Change Agreements
                                                                                                                        • Emissions Trading Scheme
                                                                                                                          • Renewables Obligation (RO)
                                                                                                                            • Feed-in Tariffs (FITs)
                                                                                                                              • The Renewable Heat Incentive
                                                                                                                                • Combined heat and power
                                                                                                                                  • Carbon Emission Reduction Target (CERT) and Community Energy Saving Programme (CESP)
                                                                                                                                    • Energy Company Obligation (ECO)
                                                                                                                                      • Electricity retail market - Reforms to promote increased competition
                                                                                                                                        • CMA energy market investigation
                                                                                                                                        • Electricity Distribution Capital Expenditure

                                                                                                                                          • Key points
                                                                                                                                            • Capital expenditure
                                                                                                                                                • Figure 47: UK gross capital expenditure by electricity distribution network operators, 2011/12-2015/15
                                                                                                                                                • Figure 48: UK gross capital expenditure by the electricity distribution network operators, 2011/12-2015/16
                                                                                                                                                • Figure 49: UK gross capital expenditure by the electricity distribution network operators, by company, 2011/12-2015/16
                                                                                                                                              • DNO’s total spending in DPCR5 is lower than set by Ofgem
                                                                                                                                                • Figure 50: Breakdown of total expenditure by DNOs during DPCR5, by area 2011-15
                                                                                                                                              • DPCR5 witnesses launch of Low Carbon Networks Fund
                                                                                                                                                • Rapid increase in distributed generation connected to DNOs’ networks
                                                                                                                                                  • Figure 51: Distributed Generation connected to the distribution network during DPCR5, 2011-15
                                                                                                                                                  • Figure 52: Distributed generation connected to the distribution network during DPCR5, 2011-15
                                                                                                                                              • Electricity Distribution Future Capital Expenditure

                                                                                                                                                • Key points
                                                                                                                                                  • New price control framework based on Revenue = Incentives + Innovation + Outputs effective from April 2015
                                                                                                                                                      • Figure 53: Total expenditure allowance for RIIO-ED1 in Great Britain, by company, 2015/16-2022/23
                                                                                                                                                      • Figure 54: Total expenditure allowance for RIIO-ED1 in Great Britain, by company, 2015/16-2022/23
                                                                                                                                                      • Figure 55: Forecast network investment of the electricity distribution network operators in Great Britain, by company, 2015/16-2022/23
                                                                                                                                                  • Electricity Transmission Capital Expenditure

                                                                                                                                                    • Key points
                                                                                                                                                      • Capital expenditure
                                                                                                                                                          • Figure 1: Size of electricity transmission network in Great Britain, 2016
                                                                                                                                                          • Figure 1: Capital expenditure by the electricity transmission industry in Great Britain, 2011/12-2015/16
                                                                                                                                                          • Figure 1: Capital expenditure by the electricity transmission industry in Great Britain, 2011/12-2015/16
                                                                                                                                                      • Electricity Transmission Future Capital Expenditure

                                                                                                                                                        • Key points
                                                                                                                                                          • New price control period RIIO-T1 2013-21
                                                                                                                                                              • Figure 1: Baseline capital expenditure allowance for NGET, 2013/14-2020/21
                                                                                                                                                              • Figure 1: Baseline capital expenditure allowance for SHETL 2013/14-2020/21
                                                                                                                                                              • Figure 1: Baseline capital expenditure allowance for SPTL, 2013/14-2020/21
                                                                                                                                                              • Figure 1: NGET annual capital expenditure, actual 2014-15 and forecast 2016-21
                                                                                                                                                              • Figure 1: SHET annual capital expenditure, actual 2014-16 and forecast 2017-21
                                                                                                                                                              • Figure 1: SPTL annual capital expenditure, actual 2014-16 and forecast 2017-21
                                                                                                                                                            • Drivers for future capital investment
                                                                                                                                                              • Lack of clarity and frequent policy changes have created investment uncertainty in renewables
                                                                                                                                                                  • Figure 1: Renewables capacity development pipeline, as of September 2016
                                                                                                                                                                  • Figure 1: UK renewable energy market share, by installed capacity, as of end of June 2016
                                                                                                                                                                • National Grid’s future energy scenarios
                                                                                                                                                                  • Offshore transmission projects and HVDC transmission to play a big part in the delivery of future transmission capability
                                                                                                                                                                    • Shift from transmission to distribution connections
                                                                                                                                                                      • Future potential energy mix
                                                                                                                                                                          • Figure 1: Forecast power generation installed capacity under “slow progression” scenario, by source, 2016-40
                                                                                                                                                                          • Figure 1: Forecast power generation installed capacity under “gone green” scenario, by source, 2016-40
                                                                                                                                                                          • Figure 1: Forecast power generation installed capacity under “no progression” scenario, by source, 2016-40
                                                                                                                                                                          • Figure 1: Forecast power generation installed capacity under “consumer power” scenario, by source, 2016-40
                                                                                                                                                                          • Figure 1: Future potential energy mix in 2036, by scenario
                                                                                                                                                                        • Interconnectivity between European countries to increase
                                                                                                                                                                          • Figure 1: Existing and planned interconnectors, as of June 2016
                                                                                                                                                                      • Gas Industry

                                                                                                                                                                        • Key points
                                                                                                                                                                          • Social factors
                                                                                                                                                                            • Economic factors
                                                                                                                                                                              • The UK’s increased reliance on gas imports
                                                                                                                                                                                • Potential for shale gas extraction
                                                                                                                                                                                  • Wholesale gas prices
                                                                                                                                                                                    • Figure 1: Average wholesale gas prices, 2002-15
                                                                                                                                                                                    • Figure 1: Average wholesale gas prices, 2002-15
                                                                                                                                                                                  • Environmental and legislative factors
                                                                                                                                                                                    • Emissions Trading Scheme
                                                                                                                                                                                      • Carbon Plan
                                                                                                                                                                                        • Combined heat and power
                                                                                                                                                                                          • EU Renewables Directives
                                                                                                                                                                                            • Climate Change Act 2008
                                                                                                                                                                                              • Renewables Obligation (RO)
                                                                                                                                                                                                • Feed-In Tariffs (FITs)
                                                                                                                                                                                                  • The Renewable Heat Incentive
                                                                                                                                                                                                    • National Emission Ceilings Directive
                                                                                                                                                                                                      • Carbon Emission Reduction Target (CERT) and Community Energy Saving Programme (CESP)
                                                                                                                                                                                                        • Energy Company Obligation (ECO)
                                                                                                                                                                                                          • Reforms to promote increased competition in retail energy market
                                                                                                                                                                                                            • CMA energy market investigation
                                                                                                                                                                                                            • Gas Capital Expenditure

                                                                                                                                                                                                              • Key points
                                                                                                                                                                                                                • The market 2012-16
                                                                                                                                                                                                                  • Figure 1: Total gas transmission and distribution capital expenditure, 2011/12-2015/16
                                                                                                                                                                                                                  • Figure 1: Total gas transmission capital expenditure, 2011/12-15/16
                                                                                                                                                                                                                  • Figure 1: Total gas distribution capital expenditure, 2011/12-2015/16
                                                                                                                                                                                                                  • Figure 1: Total gas transmission and distribution capital expenditure, 2011/12-2015/16
                                                                                                                                                                                                                • Replacement expenditure (Repex)
                                                                                                                                                                                                                    • Figure 1: Length of gas mains replaced, by distribution network operator, 2009-13
                                                                                                                                                                                                                    • Figure 1: Cumulative replacement expenditure during GDPRC1 2008-13, by GDN and type
                                                                                                                                                                                                                • Gas Future Capital Expenditure

                                                                                                                                                                                                                  • Key points
                                                                                                                                                                                                                    • Overview
                                                                                                                                                                                                                        • Figure 1: Ofgem’s required expansion of the number of properties to alleviate fuel poverty, 2013-21
                                                                                                                                                                                                                      • Innovation at centre of new price control model for gas distribution and transmission network
                                                                                                                                                                                                                        • Transmission network
                                                                                                                                                                                                                            • Figure 1: Capital expenditure plans by National Grid Gas under RIIO-T1, by category, 2014-21
                                                                                                                                                                                                                            • Figure 1: Annual capital expenditure plans by National Grid Gas under RIIO-T1, by category, 2014-21
                                                                                                                                                                                                                          • Distribution network
                                                                                                                                                                                                                            • Figure 1: Controllable cost allowances for gas distribution companies under (RIIO-GD1), 2014-21
                                                                                                                                                                                                                            • Figure 1: Annual capex plans under RIIO-GD1, by GDN, 2014-2021
                                                                                                                                                                                                                            • Figure 1: Annual repex plans under RIIO-GD1, by GDN, 2014-2021
                                                                                                                                                                                                                            • Figure 1: Forecast total capex and repex during RIIO-GD1, 2013/14-2020/21
                                                                                                                                                                                                                          • Individual companies
                                                                                                                                                                                                                            • Northern Gas Networks
                                                                                                                                                                                                                              • Figure 1: Northern Gas Networks capex and repex, 2014- 16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: Northern Gas Networks capex and repex Workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                            • Scotland Gas Networks
                                                                                                                                                                                                                              • Figure 1: Scotland Gas Networks capex and repex, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: Scotland Gas Networks capex and repex workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                            • Southern Gas Networks
                                                                                                                                                                                                                              • Figure 1: Southern Gas Networks capex and repex, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: Southern Gas Networks capex and repex Workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                            • Wales and West Utilities (WWU)
                                                                                                                                                                                                                              • Figure 1: WWU capex and repex, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: WWU capex and repex Workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                            • NGG East of England
                                                                                                                                                                                                                              • Figure 1: NGG East of England capex and repex, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: NGG East of England capex and repex workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                            • NGG London
                                                                                                                                                                                                                              • Figure 1: NGG London capex and repex, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: NGG London capex and repex workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                            • NGG North West
                                                                                                                                                                                                                              • Figure 1: NGG North West capex and repex, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: NGG North West capex and repex workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                            • NGG West Midlands
                                                                                                                                                                                                                              • Figure 1: NGG West Midlands capex and repex, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                              • Figure 1: NGG West Midlands capex and repex workload, 2014-16 (actual) and 2017-21 (planned)
                                                                                                                                                                                                                          • Supply Industry Structure

                                                                                                                                                                                                                            • Key points
                                                                                                                                                                                                                              • Companies
                                                                                                                                                                                                                              • AMEC Foster Wheeler

                                                                                                                                                                                                                                  • Company outlook
                                                                                                                                                                                                                                      • Figure 1: Financial analysis of AMEC Foster Wheeler, 2011-15
                                                                                                                                                                                                                                  • Balfour Beatty

                                                                                                                                                                                                                                      • Balfour Beatty announces several profit warnings during 2014 and 2015 as it faces major challenges from construction contracts
                                                                                                                                                                                                                                          • Figure 1: Financial analysis of Balfour Beatty, 2011-15
                                                                                                                                                                                                                                          • Figure 1: Financial analysis of Balfour Beatty by segment, 2014-15
                                                                                                                                                                                                                                      • Kellogg Brown & Root Holdings

                                                                                                                                                                                                                                            • Figure 1: Financial analysis of Kellogg Brown & Root Holdings, 2010-14
                                                                                                                                                                                                                                        • The Costain Group

                                                                                                                                                                                                                                            • Company performance and strategy
                                                                                                                                                                                                                                                • Figure 1: Financial analysis of Costain Group, 2011-15
                                                                                                                                                                                                                                                • Figure 1: Turnover analysis of Costain Group, by division, 2014-15
                                                                                                                                                                                                                                            • Laing O’Rourke

                                                                                                                                                                                                                                                • Focus on modern methods of construction
                                                                                                                                                                                                                                                  • Strategic review 2015-16
                                                                                                                                                                                                                                                    • Australian business put up for sale
                                                                                                                                                                                                                                                      • Company performance:
                                                                                                                                                                                                                                                        • Figure 1: Financial analysis of Laing O’Rourke, 2011-15
                                                                                                                                                                                                                                                    • Morrison Utility Services

                                                                                                                                                                                                                                                        • Company performance:
                                                                                                                                                                                                                                                          • Figure 1: Financial analysis of Morrison Utility Services, 2012-16
                                                                                                                                                                                                                                                      • McNicholas Construction Holdings

                                                                                                                                                                                                                                                          • Company performance:
                                                                                                                                                                                                                                                              • Figure 1: Financial analysis of McNicholas Construction (Holdings), 2012-16
                                                                                                                                                                                                                                                          • Forefront Utilities

                                                                                                                                                                                                                                                              • Figure 1: Financial analysis of Forefront Utilities, 2011-15
                                                                                                                                                                                                                                                          • Further Sources and Contacts

                                                                                                                                                                                                                                                            • Trade associations and regulatory bodies
                                                                                                                                                                                                                                                              • Association of Electricity Producers
                                                                                                                                                                                                                                                                • Energy Networks Association
                                                                                                                                                                                                                                                                  • Energy Industries Council
                                                                                                                                                                                                                                                                    • Energy Retail Association
                                                                                                                                                                                                                                                                      • Office of Gas and Electricity Markets (Ofgem)
                                                                                                                                                                                                                                                                        • Office of Gas and Electricity Markets - Scotland (Ofgem Scotland)
                                                                                                                                                                                                                                                                          • Office of Gas and Electricity Markets - Wales (Ofgem Wales)
                                                                                                                                                                                                                                                                            • Energy Networks Association
                                                                                                                                                                                                                                                                              • Society of British Gas Industries
                                                                                                                                                                                                                                                                                • Association of Consulting Engineers
                                                                                                                                                                                                                                                                                  • British Water
                                                                                                                                                                                                                                                                                    • British Waterways Board
                                                                                                                                                                                                                                                                                      • Chartered Institution of Water & Environmental Management
                                                                                                                                                                                                                                                                                        • International Water Association
                                                                                                                                                                                                                                                                                          • OFWAT
                                                                                                                                                                                                                                                                                            • Society of British Water & Wastewater Industries
                                                                                                                                                                                                                                                                                              • National Joint Utilities Group
                                                                                                                                                                                                                                                                                                • Trade magazines
                                                                                                                                                                                                                                                                                                  • The Engineer
                                                                                                                                                                                                                                                                                                    • European Process Engineer
                                                                                                                                                                                                                                                                                                      • Modern Utility Management
                                                                                                                                                                                                                                                                                                        • Plant Engineer
                                                                                                                                                                                                                                                                                                          • Plant and Works Engineering
                                                                                                                                                                                                                                                                                                            • Professional Engineering
                                                                                                                                                                                                                                                                                                              • Utility Week
                                                                                                                                                                                                                                                                                                                • Trade exhibitions
                                                                                                                                                                                                                                                                                                                  • Utility Week Live incorporating IWEX 2017
                                                                                                                                                                                                                                                                                                                    • edie live 2017

                                                                                                                                                                                                                                                                                                                    Companies Covered

                                                                                                                                                                                                                                                                                                                    To learn more about the companies covered in this report please contact us.

                                                                                                                                                                                                                                                                                                                    Utility Capital Expenditure - UK - December 2016

                                                                                                                                                                                                                                                                                                                    US $1,288.43 (Excl.Tax)