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The rate of returns set by the CMA would cost billpayers more than £2 billion over the next five years if they were applied across the water sector, Ofwat has calculated.
4 years ago
Ofwat's latest report has identified barriers to competition in bioresources activities and will conduct a deeper review of sludge to inform regulation framework for PR24
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.
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
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.
Consumer watchdogs have welcomed the CMA's increased spending allowances for projects that were important to consumers but warned its overall stance could set a precedent for other regulated companies and add to the pressure on household finances.
Ofwat has expressed concern that in its PR19 provisional redeterminations, the CMA has set a rate of return that is lower than that requested by the appellant companies in their business plans. Senior director David Black told Utility Week this goes against the precedent of previous cases. Read his comments and reaction from across the industry.
Ofwat has calculated price control adjustments to accurately reflect the final year of AMP6 (2019-20) which could see companies returning money to customers for underperformance.
The CMA is due to deliver its initial redetermination of the PR19 business plans from Anglian, Bristol, Northumbrian and Yorkshire imminently. Will it side with Ofwat or the companies on customer engagement, returns and resilience? Utility Week gauges the view of an analyst, legal expert and ratings agency.
Following a scathing government report on the management of water supplies, Ofwat's chief executive has defended its approach to resilience, bills and investment
The water retail market may still be in its infancy but has been dogged by problems from day one, with Covid-19 adding a new dimension to the challenges. In the first of a two-part feature on the non-domestic market in its fourth year, Utility Week talks to retailers about slowly-improving bilateral relations, getting better data and questioning self-governance.
National Grid has unveiled a General Electric director as its new chair. Elsewhere, former energy minister and COP26 president Claire O'Neill has joined sustainable business group WBCSD, Southern Water prepares to welcome EA director Toby Willison and an ex-Ofwat director joins SSE.
The Competition and Markets Authority has told Utility Week it expects to hit its deadline of mid-September to deliver its first take on the appeals by four water companies to Ofwat's final determinations on their AMP7 business plans. All eyes will be on any adjustments to WACC, what value is placed on customer input and the levels of investment permitted.