Subject to finalisation of company specific drafts, the regulator said it expects the changes to come into effect from 1 April 2017.
Ofwat announced its intention to modify the conditions of 17 water company licences in November, in relation to:
- indexation of price controls by CPI or CPIH, instead of RPI
- new separate water resources, network plus water, bioresources and network plus wastewater price controls
- market information databases in relation to water resources and bioresources
- in-period adjustments to price controls to reflect performance against performance commitments
It said these changes will promote markets to inform, enable and encourage greater efficiency in England and, where it aligns with Welsh government policy, in Wales.
Source: Ofwat