Ofwat to consult on changes to Regulatory Accounting Guidelines

11 Jan 2019 01:17 PM

Water regulator Ofwat has proposed a number of changes to its Regulatory Accounting Guidelines (RAGs) which set out in detail how water companies must treat particular items where disclosure and reporting requirements go further than those normally required under company law.

Companies must use these guidelines to complete their annual performance report, which is in turn used by Ofwat and other stakeholders to allow easy comparison of each company’s performance.

Under the changes proposed by Ofwat, water companies would face expanded disclosure requirements in a number of areas including:

The RAGs have been amended to take account of an exercise carried out by Ofwat in December 2018 to set out all water companies’ licence obligations in clearer, more accessible language.

Ofwat Press Office:

Tel: 0121 644 7642
Mob: 074 5801 6085
Email: fintan.hastings@ofwat.gsi.gov.uk

Notes to editors: