Ofwat price control director to step down

Aileen Armstrong, Ofwat’s senior director for company performance and price controls, has signalled her departure from the water regulator this summer.

Armstrong has been instrumental in the PR24 process and will be stepping down months after the industry began work on its draft plans the next price review for 2024.

She will join the Solicitors Regulation Authority after seven years at the water regulator.

Ofwat said recruitment for Armstrong’s role has begun and chief executive David Black insisted PR24 preparations were “robust”.

“Aileen has made an enormous contribution to Ofwat during her time here, not least in spearheading the development of the PR24 methodology, the blueprint for the upcoming price review,” Black said.

He added: “Aileen is leaving a strong team and robust process to continue preparations for PR24.”

During her seven years at Ofwat, Armstrong has been instrumental in pushing the sector to be transparent in its long-term financial plans and calling for nature-based solutions to be central to business planning.

Armstrong has been the face of the draft and final methodology for PR24 and described the regulator’s approach to make the next five-year cycle a building block in longer-term development and thinking in the face of climate change and resilience challenges.

Her departure was announced a week after top-level changes at the energy regulator, with Ofgem’s director of gas crisis departing.