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YU. Yu Group Plc

1,830.00
80.00 (4.57%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Yu Group Plc LSE:YU. London Ordinary Share GB00BYQDPD80 ORD GBP0.005
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  80.00 4.57% 1,830.00 1,790.00 1,810.00 1,825.00 1,770.00 1,770.00 186,536 16:35:30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Combination Utilities, Nec 278.59M 4.77M 0.2923 61.58 293.69M

Yu Group PLC Licence granted to supply water market

11/12/2017 7:00am

RNS Non-Regulatory


TIDMYU.

Yu Group PLC

11 December 2017

11 December 2017

RNS Reach

Yü Group PLC

("Yü Group" or the "Group")

Licence granted to supply water market

Yü Group PLC (AIM: YU.), the independent supplier of gas and electricity to the UK corporate sector, announces that it has been granted a licence by regulator Ofwat to enter the retail and commercial water market. The Company intends to supply water services for the business sector only and will trade under the Company's newly formed subsidiary, Yü Water Limited ("Yü Water").

Yü Group decided to launch Yü Water following the de-regulation of the water retail market in April this year, the largest market of its kind in the world. The licence will allow Yü Water to buy wholesale water services and offer these services together with its energy services to develop bespoke packages to suit the individual business needs of its customers.

Commenting on the news, Ofwat senior director Emma Kelso said: "It's good news to see suppliers bring different areas of expertise to the water market - with Yü Water bringing theirs from a background in energy."

Bobby Kalar, Chief Executive of Yü Group, said: "The addition of the water utility services to our product portfolio builds on our experience in the energy market for corporate customers and our ability to deliver these utilities with best-in-class customer service. Our focus remains on our core offering in the provision of energy, however this enables us to offer a bespoke, value-added service to our customers who seek the flexibility of a one-stop-shop for their utility needs. We see long term opportunities for the Company in the water industry."

For further information, please contact:

 
Yü Group PLC 
 Bobby Kalar 
 Nick Parker        +44 (0) 115 975 8258 
 
 
  Alma PR 
  John Coles 
  Hilary Buchanan 
  Robyn Fisher        +44 (0) 20 8004 4217 
 

Notes to Editors

Information on the Group

Yü Group PLC, trading as Yü Energy, is an independent supplier of gas and electricity focused on servicing larger corporate and SME businesses throughout the UK. It has no involvement in the domestic retail market. The Group was listed on the AIM market of the London Stock Exchange following a successful IPO in March 2016.

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRATMBFTMBBBBJR

(END) Dow Jones Newswires

December 11, 2017 02:00 ET (07:00 GMT)

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