History
In 1990 North West Water and NORWEB, the companies responsible for the provision of water and electricity to the North West, were privatised. In 1995, they merged forming United Utilities but retained their separate identities.
In 1998, UU listed on the New York Stock Exchange, but delisted their shares in 2007. In 2000, North West Water and NORWEB branding was phased out in favour of one single brand under United Utilities, a rebranding that was completed by the end of 2001.
It sold its telecoms business, Your Communications in 2006, and Vertex in March 2007. In December 2007, United Utilities sold its electricity distribution network assets to North West Electricity Networks (Jersey) Limitied, a joint venture between funds run by Colonial First State (part of the Commonwealth Bank of Australia) and US investment bank JPMorgan Chase. Electricity North West Limited became the licensed Distribution Network Operator for the north west of England as a consequence of the sale. United Utilities continued to operate and maintain the network on behalf of Electricity Northwest until 2010, when Electricity Northwest bought the electricity network operations and maintenance arm of United Utilities to establish one Group which owns, operates, manages and maintains the network.
In 2011, United Utilities were selected as the preferred bidder by Severn Trent Water to purchase the Lake Vyrnwy estate for £11 million. In 2012, United Utilities proposed a national water pipeline from water sources in Manchester to London.
Read more about this topic: United Utilities
Famous quotes containing the word history:
“The history of the genesis or the old mythology repeats itself in the experience of every child. He too is a demon or god thrown into a particular chaos, where he strives ever to lead things from disorder into order.”
—Ralph Waldo Emerson (1803–1882)
“... all big changes in human history have been arrived at slowly and through many compromises.”
—Eleanor Roosevelt (1884–1962)
“No one is ahead of his time, it is only that the particular variety of creating his time is the one that his contemporaries who are also creating their own time refuse to accept.... For a very long time everybody refuses and then almost without a pause almost everybody accepts. In the history of the refused in the arts and literature the rapidity of the change is always startling.”
—Gertrude Stein (1874–1946)