Water UK, the trade association for the water industry, has published its response to Ofwat’s recent draft determination, which gives the economic regulator’s initial view of water company business plans for the forthcoming five year period, 2025 to 2040.
In its submission Water UK urges Ofwat to back company plans in full and ensure the right conditions are in place to allow investment.
Water UK argues that
- Independent analysis shows universal concern among investors with urgent environmental improvements put at risk.
- Water companies had set out plans to invest a record £105 billion. Ofwat has proposed cutting this by £17 billion.
- Water companies urge Ofwat to back company plans and ensure the right conditions for investment are put in place.
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The industry is clearly on the offensive. According to media reports