Ofwat

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The four water companies that appealed Ofwat's final determination for PR19 have said the Competition and Market Authority's preliminary redetermination strikes a better balance between risk and reward for investors but still doesn't go far enough towards improving the financeability of their business plans.
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Customer engagement with business plans should be increased ahead of the next price review, according to Ofwat's chief executive. Meanwhile, consumer watchdog CCW has claimed that neither business plans nor the regulator was clear about how such evidence was used. in PR19.
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CCW has been tasked with carrying out an independent review of the financial support offered by different water companies across England and Wales, to identify ways to better support households that are struggling financially
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In our latest review of sector coverage across the national newspapers, Ofwat lashes out at the CMA's generous interim determinations as lacking 'explanation, reasoning or analysis'; three water companies are scrutinised for their offshore accounts; and a report from the London School of Economics states 80,000 jobs could be created in the green recovery.
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CCW has reviewed how water companies interacted with billpayers when writing their PR19 business plans and made recommendations for best practice looking ahead to PR24 including a call for comparable nationwide data
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Meeting the challenges of climate change, over population and PR19 will take innovation and collaboration both within and beyond the water sector. To realise this, a water "centre of excellence" has been conceived and will be launched in the spring.
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What does the CMA's provisional ruling on leakage say about the challenge Ofwat set the water sector to drastically reduce the amount of water lost to leaks?
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What would the risks and rewards be of disgruntled water companies asking Ofwat for an interim determination on the back of the CMA's surprise take on cost of capital in its initial findings? Colm Gibson, managing director at Berkeley Research Group, suggests Covid-19 could give adequate grounds.
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