Last week’s Ofwat announcement on draft determinations for 2025-2030 business plans was covered in Water News. The headlines are that the £96bn proposed programme has been reduced by nearly 10% to £88bn, and allowable bill increases have been reduced by 33%. In slightly more detail, there is £10bn to reduce storm overflows, £1.4bn of which […]
Ofwat has published an updated timetable and key milestones for its 2024 price determination (PR24), after the general election necessitated a delay due to purdah rules. The regulator said it would endeavour to issue final determinations on 19 December, but that it was exploring the option of extending this until 31 January at the latest. […]
A coalition of 15 leading environmental groups has written to the Government urging it not to delay or cut back on environmental spend at PR24 to improve water quality. The organisations include the Wildlife Trusts, Rivers Trust, Surfers against Sewage, RSPB England, Friends of the Earth and Wildfowl & Wetlands Trust. They were responding to […]
Ofwat has concluded that only seven of the 42 PR24 bespoke performance commitments (PCs) submitted by water companies in April are potentially suitable for further development. These come from six firms: South West, Anglian, Thames, SES, Affinity and Southern. Most of the others, which were received from 12 companies in all (four firms opted not […]
Ofwat chief executive David Black has provided a check list for water companies hoping to make the case for bill increases to fund a step-up in investment at PR24 amidst a cost-of-living crisis and falling public trust. Speaking at a British Water event, Black identified a number of priorities Focus on what matters to customers […]
This speech was given by Aileen Armstrong, Senior Director, Company Performance and Price Control on 20 March 2023 at the Future of Utilities: Water conference. The challenges for companies at PR24 You’ll hear a lot today about the pressures the sector is facing. Water resources. River and bathing water quality. Climate change. Cost of living […]
Ofwat has published the final methodology for the upcoming Price Review (PR24). Ofwat has said that the need for substantial improvement in the sector is clear, and PR24, which will cover the period 2025-2030, will drive water companies to step up and deliver improvements for customers and the environment. The final methodology sets out the framework which […]
Ofwat has set out its draft methodology for the upcoming Price Review (PR24) with a focus on securing better outcomes for customers and the environment. PR24, which will cover the period 2025-2030, will drive water companies to step up to deliver in the face of urgent challenges on the environment and climate change. The review will push […]