Among a swathe of Ofwat PR24 publications last week, the regulator is consulting on regulatory reporting for 2022-23, and on operational greenhouse gas emissions performance commitments definitions for PR24.
This consultation sets out proposed changes to the reporting requirements for the annual performance report (APR) for 2022-23 onwards. The reporting requirements for the APR are contained in our regulatory accounting guidelines (RAGs). The RAGs set out the data and information that regulated monopoly companies must report and ensures that data is published consistently across the sector. This promotes transparency and allows all stakeholders to understand and challenge companies.
We are consulting on clarifications and updates to our current requirements as well as on requirements for some new information which we have not previously required to be reported. The amendments cover the data tables and disclosures which companies are required to submit as part of their APRs. These requirements are set out in ‘RAG 3 – Guideline for the format and disclosures for the annual performance report’ and ‘RAG 4 – Guideline for the table definitions in the annual performance report’. We are not consulting on changes to any of the other RAGs.
The closing date for this consultation is 3 March 2023.
This consultation is about the definitions of the PR24 common water and wastewater operational greenhouse gas (GHG) emissions performance commitments. The final methodology for PR24 outlines a number of decisions that relate to these definitions.
The closing date for this consultation is 6 March 2023.
Commentary
The proposals would extend mandatory reporting to cover chemicals used in water and wastewater treatment processes, e.g. to remove phosphorous, as well as emissions from the treatment and disposal of waste and bioresources. The regulatory reporting consultation also confirms the requirement to report embedded emissions from construction and maintenance. The aim is to drive continual improvement and achieve standardised reporting in this area by PR29.
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