(Reuters) - Water suppliers United Utilities Group Plc (L:UU) and Severn Trent Plc (L:SVT) said they entered into a joint venture to combine their non-household water and wastewater retail businesses.
The companies said Severn Trent would pay 3.5 million pounds after the completion of the transaction to establish the 50/50 joint venture.
The move comes ahead of the opening of the non-household retail water market in the UK to competition in 2017.