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Ofwat’s next price review will look to lower water bills until 2025

Speaking at the Consumer Council for Water’s ‘Customer Matters’ event yesterday, Ofwat Chief Executive, Cathryn Ross, confirmed that customers will be at the heart of the next price review and that Ofwat will strive to deliver lower bills and better service.

In describing the challenges and opportunities facing the sector, Cathryn Ross confirmed Ofwat’s ambitions for the 2019 price review to deliver better customer service, greater resilience and lower bills.

Delivering this would mean bills on average across the sector could continue to fall in real terms until 2025 at least.

Ofwat is also calling on the private companies which provide these essential public services to be exemplary corporate citizens, with the highest standards of board leadership, governance and transparency. Ofwat is pursuing further the principles and approach for oversight of this, building on work it started in the previous price review (2014).

Ofwat is currently consulting on the methodology for its 2019 price review and will publish the final methodology, setting out its approach, in December of this year.

The speech can be found in full here.

For further information: Fintan Hastings Senior Associate – Media Relations, 0121 644 7642, 074 5801 6085 or fintan.hastings@ofwat.gsi.gov.uk

 

Channel website: http://www.ofwat.gov.uk/

Original article link: http://www.ofwat.gov.uk/pn-1217-ofwats-next-price-review-will-look-lower-water-bills-2025/

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