Anglian becomes third to appeal final determination
Anglian Water has asked Ofwat to refer its PR19 final determination to the CMA and becomes the third company to do so.
Anglian had the largest gap between its proposed investment of £6.5 billion and Ofwat’s final determination of £5.7 billion. The totex gap of £747.8 million means bills would come down by 10% compared to Anglian’s proposed one per cent bill reduction.
Chief executive Peter Simpson said: “The Anglian region faces specific challenges brought about by a changing climate and a population growing faster than almost anywhere else in the UK. Our plan aimed to address these challenges, and our customers wholeheartedly supported it. They want us to invest now, not wait. We also recognise that delaying now will mean that costs for customers in future will be much higher.
“Social and environmental needs are firmly embedded in our business purpose. We have a long term focus on improving the resilience of the region, and investing in infrastructure to cope with the impacts of climate change and population growth.
“As we do not believe the final determination enables us to meet these needs, we are making use of the next step in the regulatory process and asking the CMA to consider if the right balance has been struck between bill reductions and investment.
“Throughout the CMA process we will remain absolutely focused on continuing to deliver operational excellence and great service for our customers.”
Thames, Southern, Northumbrian, Portsmouth, South East and South Staffs are yet to announce their decision to accept the final determination handed out by Ofwat on 16 December.
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