PR24

Latest in PR24

United Utilities earned fast-tracked status for its PR19 business plans, which chief executive Steve Mogford says put the business on the front foot to deal with the pandemic year. He talks to Utility Week about how the company has improved its performance and reflects on the need for a simpler price review process, as well his view that CSOs are the next big challenge.
Interviews
An online mapping tool for measuring natural assets has been launched by a company co-founded by the former chair of the Natural Capital Committee, Dieter Helm. The developers said the tool gauges the benefits assets can provide in terms of carbon sequestration and storage, flood risk reduction, biodiversity and social wellbeing and will help inform discussions around the PR19 price review for water companies.
News
Yorkshire Water has published ideas for investment and regulatory reform to allow the sector to be more flexible in its PR24 business plans and rise to the challenges of climate change and population growth. Utility Week discusses the company's proposal with its director of corporate affairs, Richard Emmott.
News
The Competition and Markets Authority has nudged back the estimated date for its PR19 final redeterminations, which are now expected to appear in "late" February. It follows a series of consultations on several areas, including the cost of capital.
News
Investors have rallied in response to the Competition and Markets Authority (CMA)’s revised approach to the cost of capital in the PR19 appeals. Infrastructure investment groups warned of long-term repercussions of the CMA’s change of tack, with one suggesting it brought the water sector “perilously close to the edge” of not being attractive to investors. Meanwhile, Ofwat warned the CMA that arguments are “likely to have been from investors that seek to protect their existing valuations” rather than concern for future investment.
News
Managing water resources to prevent flooding or droughts is a national concern and regional planning groups are bringing together their work to inform the bigger picture. Ruth Williams looks at the work underway to map out needs for the rest of the century.
News
The first round of Ofwat's innovation competition kicks off today with the Innovation in Water Challenge, inviting ideas and pitches from within and outside the water sector with a chance to win up £250,000 of development funds.
News
Ofwat has launched a consultation on the best ways to use evidence from customer engagement and research in future price reviews after criticism that consumer views had been overlooked at PR19
News
With the water sector less than a year into enacting PR19 business plans, Ofwat has reached out to stakeholders for input on the framework for the next price review. It asks what the sector should look like by 2040 and how to get there considering climate change, investment, affordability and resilience.
News
Ofgem has written to the CMA asking it to consider the impact on other regulated sectors of its stance on the cost of capital in water. Ofgem urged the CMA to ensure its redetermination is not “treated as making broader assessments beyond the present and specific context of PR19”.
News
Utility Week looks at the key themes emerging from the responses to the Competition & Markets Authority’s initial findings on the PR19 appeals. Was the panel qualified, did it have enough time and could an unhappy Ofwat move towards a judicial review?
Analysis
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