Ofwat has today (31 January) published its initial assessment of water companies' business plans for the 2019 price review, PR19. The industry reacts.
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Ofwat has taken a tough stance on all but three water companies and will push them to go further to deliver for customers between 2020 and 2025.
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In its assessment of each company’s plan, Ofwat will highlight where companies are delivering for customers and where it will be pushing companies to go further.
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Customer satisfaction in the water industry will not be achieved by simply “providing a largely invisible public service," Ofwat’s senior director of corporate communications has warned.
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Ofwat has noted the “disappointing performance” for customer service by Thames Water and SES Water as the regulator published the service incentive mechanism (SIM) scores for 2017-18.
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BT has been awarded a licence to supply its own water and sewerage retail services in the open market.
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Ofwat has indicated that it will consider more ambitious leakage targets for future price reviews but said further improvements will be dependent on advances in technology as well as greater levels of industry collaboration.
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Water companies have done too little to develop a new water grid that would enable supplies to be shifted from areas where water supplies are abundant to those at greater risk of shortages, according to Ofwat.
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The past year has been a perfect storm for the water industry. Weather extremes are increasingly becoming the norm and the cracks of an ageing infrastructure are starting to show.
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Ofwat confirms outperformance and underperformance payments for Severn Trent, Anglian Water, South West Water and Hafren Dyfrdwy.
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Southern Water has incurred the wrath of The Pensions Regulator (TPR) after it was revealed the utility giant had prioritised dividend payments to shareholders over payments into the company pension scheme, despite a multimillion pound pension scheme deficit.
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SES Water said it has “significantly lowered” its gearing from 77 per cent to below 60 per cent as it published its first ever “customer-friendly” guide which explains how the company its owned, run and financed.
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