In a statement, the regulator said: “We recognise that the information we propose to publish about our decisions on companies’ business plan categories may include specific information about individual companies.”
“So before we publish our decisions we will identify the types of information that we consider should be confidential and excluded from the information we publish.”
If companies wish other information to be considered confidential, in addition to the information Ofwat specifies, it expects them to give a detailed explanation of why this is necessary.
“Given the benefits of transparency, we would expect companies’ arguments to be extremely compelling. It will be for each company to prove to us that a specific piece of information would or might seriously and prejudicially affect their interests,” added the regulator.
In addition, Ofwat will not accept companies claiming blanket confidentiality.
Ofwat said it recognised the importance of being transparent about how it made its decisions, during its risked-based review, in order to deliver incentives aimed at encouraging water companies to produce high-quality business plans
According to the regulator, transparency is also crucial for giving a clear signal to investors and other stakeholders about which companies have the best plans, as well as promoting accountability and public trust.
The 2014 price review is Ofwat’s process for setting price controls that each monopoly company must deliver over the five years between 2015 and 2020.
Each company will submit its business plan, setting out its plan for prices and services for its customers, by 2 December 2013.