Price review

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Ofwat has said a cultural shift will be needed from water companies in order to move away from producing five-year business plans in isolation. The regulator wrote to businesses setting out expectations for "minimum requirements" on long-term strategies.
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Non-household water market operator MOSL has set out suggestions for how to include concerns of the business sector in PR24 plans including setting ODIs to allow wholesalers to invest in metering and data.
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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.
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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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As the UK prepares for negative interest rates might utility regulators be tempted to follow?
Comment
With the ink barely dry on the final determinations, KPMG's director of infrastructure examines lessons the regulator can learn from the price control process for PR24. Andrew Beaver also questioned the cost of capital and how to simplify the process.
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The tough stance adopted by Ofwat has challenged the water sector and reassured its investors, according to S&P Global Ratings. Despite difficult times ahead and lower ratings, water remains a sound longer-term investment, thanks in part to the firm regulatory framework the companies operate in, a senior director told Utility Week.
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Speaking to investors Ofwat’s chief executive Rachel Fletcher, chairman Jonson Cox, and senior directors David Black and Andrew Chesworth, discuss the changes between the draft and the final determination and give more details on the approach to Thames.
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Ofwat's final determinations on water company business plans for the next five years was due to take place the day before the general election but the regulator has said purdah protocols have now made this impossible.
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Robert Light has been appointed as the new chair of the water watchdog and high on his agenda will be ensuring consumers’ views shape the decisions of water companies, regulators and policy makers.
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