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    Ashley Thomas

    Research Analyst at Societe Generale

    Ashley Thomas is a Research Analyst at Societe Generale with expertise in utilities sector coverage, notably focusing on companies such as United Utilities Group. Thomas has participated in earnings call discussions for this company, demonstrating sector-specific analytical expertise. Ashley began working at Societe Generale in an analyst capacity and has built professional exposure through direct company engagement, although comprehensive performance metrics and full career history details are currently limited. Credentials such as securities licenses and formal registrations have not been publicly disclosed.

    Ashley Thomas's questions to United Utilities Group (UUGRY) leadership

    Ashley Thomas's questions to United Utilities Group (UUGRY) leadership • Q2 2016

    Question

    Ashley Thomas asked for the company's view on Ofwat's Return on Regulated Equity (RoRE) methodology and its consistency. He also inquired whether the company is making pension deficit repair contributions beyond what is allowed by the regulator.

    Answer

    CFO Russ Houlden answered both questions. He confirmed the company is making deficit repair contributions of around £40 million per year, which is double the £20 million regulatory allowance. On RoRE, he expressed that he is 'a lot happier' with the methodology now on its eighth definition, as it has flushed out major inconsistencies, though some areas still need refinement.

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