Dec 28, 2000

UK Telecoms, Water Firms Removed From Utilities Bill

Stephen Byers, Britain’s trade and industry secretary,
announced the removal of provisions covering telecommunications and water
companies from his utilities regulation bill, which aims to link directors' pay
to performance of their companies. It will also cut power bills by up to 10
percent.
Government sources said a large number of
telecommunications companies, including Orange, Vodafone Airtouch, Cable and
Wireless, wrote to Byers arguing that the bill would undermine technological
innovation.
As for the water companies, Byers said the Department of
the Environment, Transport and the Regions will bring forward regulation
measures in a draft water bill later in the year.
(Source: Reuters)

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