Yu Group to enter business water market in UK
Yu, a supplier of gas and electricity to the UK corporate sector, said it intends to supply water to the business sector only, and will trade under a newly formed subsidiary Yu Water.
The company said it has made the move after the deregulation of the UK retail water market in April.
The licence, Yu said, will allow its subsidiary to buy wholesale water services and offer them together with energy services to deliver bespoke packages to business clients.
Chief executive Bobby Kalar 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." ■