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:
“Postmodernism is, almost by definition, a transitional cusp of social, cultural, economic and ideological history when modernism’s high-minded principles and preoccupations have ceased to function, but before they have been replaced with a totally new system of values. It represents a moment of suspension before the batteries are recharged for the new millennium, an acknowledgment that preceding the future is a strange and hybrid interregnum that might be called the last gasp of the past.”
—Gilbert Adair, British author, critic. Sunday Times: Books (London, April 21, 1991)
“A man will not need to study history to find out what is best for his own culture.”
—Henry David Thoreau (1817–1862)
“We don’t know when our name came into being or how some distant ancestor acquired it. We don’t understand our name at all, we don’t know its history and yet we bear it with exalted fidelity, we merge with it, we like it, we are ridiculously proud of it as if we had thought it up ourselves in a moment of brilliant inspiration.”
—Milan Kundera (b. 1929)