The company will start work on its £3 billion investment programme for AMP6 from April this year. It aims to deliver on 26 promises Southern Water has made to customers, including reducing leakage by two million litres of water per day.
Southern Water’s chief executive Matthew Wright said: “Following detailed analysis and discussion, we are confident that the final determination, when looked at in the round, is consistent with our ability to deliver our plan for the coming five years.
“It also supports the investment required to ensure we are among the leaders in the industry for customer service, operational performance and cost efficiency.”
The final determination will see the average water and wastewater bill fall to £403 in 2019/20, down from £437 in 2014/15.
Dee Valley Water also confirmed to Utility Week it has accepted the final determination from Ofwat ahead of the 12 February deadline.
Severn Trent accepted the final determination at the end of January, but at the same time also announced plans to slash its dividend by 5 per cent and buy back £100 million of shares.
Bristol Water has rejected the price control set out by Ofwat, and the case is set to be referred to the CMA early next month.