UK to create single regulator for troubled water sector

LONDON, July 21 (Reuters) - Britain's government will abolish its main regulator of the water industry and create a new single body for oversight of the sector, Environment Secretary Steve Reed said on Monday.

"Having four separate regulators with overlapping and conflicting remits has created a merry-go-round that has failed customers and the environment," Reed said.

Earlier on Monday, an official report said Britain should overhaul water regulation to improve protection of the environment, investors and consumers. It also gave companies breathing space on sewage fines.