UK Water Companies To Benefit From Cheap EU Loans - Report

18th Jul 2010 12:48

LONDON (Dow Jones)--The European Union will raise loans to the U.K.'s 10 biggest water utilities by 60% to EUR4 billion, The Independent on Sunday said. The European Investment Bank is the EU's infrastructure lending arm and is already the largest single lender in the sector. The companies, which include United Utilities PLC (UU.LN) and Severn Trent PLC (SVT.LN), will use the cheap loans to reduce water poverty--where a bill accounts for more than 3% of household spending, the newspaper said. Other companies likely to benefit include South West Water, Bournemouth & West Hampshire Water, Northumbrian Water Group PLC (NWG.LN), Yorkshire and Welsh Water, it said. The European Investment Bank wasn't immediately available to comment. Newspaper Web site: www.independent.co.uk -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320 (END) Dow Jones Newswires July 18, 2010 07:48 ET (11:48 GMT)