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.
For further information: Fintan Hastings Senior Associate – Media Relations, 0121 644 7642, 074 5801 6085 or email@example.com
Latest News from
Yu Water awarded licence to operate in the retail water market08/12/2017 08:05:00
Yu Water, a subsidiary of Yu Group PLC which also operates business energy supplier, Yu Energy, has become the latest entrant to the new retail water market after being granted a licence by regulator Ofwat.
First Business Water awarded licence to operate in retail water market27/11/2017 10:20:00
First Business Water has become the latest entrant to the new retail water market after being granted a water and sewerage licence by regulator Ofwat. This brings to 23 the number of retailers operating in the market, providing even greater choice for non-household customers in England.
Utilities ripe for revolution, says Ofwat’s Chief Executive22/11/2017 10:15:00
Ofwat’s chief executive believes the water sector, and other utilities, are ‘ripe for a revolution’ as she predicts a radical shake-up in how customers buy utilities and home services.
Money down the drain – leak crackdown could save enough water for five cities16/11/2017 10:25:00
The water regulator has signalled a new crack-down on leakage and is challenging water companies to save up to 170 billion litres of water a year by targeting leaks.
New Ofwat Code helps improve services for developer services customers14/11/2017 14:03:00
Ofwat yesterday published their new code for adoption agreements. These are the agreements that developers or self-lay providers enter into when they want an appointed water and sewerage company to take over responsibility for infrastructure they have constructed.