In April 2014, Ofwat published ten principles for holding companies covering the areas of transparency, risk and long term decision making.
In this document, Ofwat states that it is:
“looking for a self-regulatory approach and a leading holding company may choose to set out clearly in a code how it meets our principles. Where a holding company does not meet a principle which we have set out, it may instead choose to provide an explanation of why that is the case and the approach that it has taken to meeting the spirit of the proposal”.
The AWG Holding Company Governance Code addresses each of Ofwat’s ten principles and explains how Anglian Water Group intends to satisfy each of those principles.
In addition to the provisions of this Code, AWG also elects to comply with the Guidelines for Enhanced Disclosure by Portfolio Companies and Private Equity Firms published by the Guidelines Monitoring Group (the “Walker Guidelines”) (last updated in December 2016), on a voluntary basis.