Ofwat confirms Northumbrian Water and Welsh Water for early determination
Water regulator Ofwat is to proceed with early draft determinations for Northumbrian Water and Dŵr Cymru Welsh Water.
In March Ofwat invited companies that did not pre-qualify for enhanced status under the risk-based review to submit revised business plans by 2 May and request a draft determination by 25 June.
To accept a request for an early draft determination, Ofwat said that companies must submit further information addressing outstanding queries and be of a sufficiently high quality to form the basis of the draft determination.
Northumbrian Water and DÅµr Cymru submitted revised business plans by 2 May.
In a statement, Ofwat said: "Ofwat has examined these plans and considers that both companies have applied best endeavours to address the gaps identified under the risk-based review. Ofwat will proceed with early draft determinations for Northumbrian Water and DÅµr Cymru."
These will be published by 25 June, said Ofwat.
DÅµr Cymru's revised business plan proposed a 6% reduction before inflation in its average household water and sewerage bills by 2020 whilst maintaining record investment at £1.5 billion to maintain and improve its services.
DÅµr Cymru's chief executive Chris Jones said: "This business plan will drive improvements to the services we provide to our customers, maintain high levels of investment, offer even better value for money and a lower water bill.
"Despite cutting bills further, we've not cut investment or lost any of the benefits of our original plan. As a company without shareholders, our unique model in the utility industry ensures that all gains go to customers and the reduction in the bill has been achieved through some changes to the way in which we finance the plan, including a lower cost of capital."
- Ofwat consults on regulatory reporting proposals Ofwat has gone out to consultation over its draft proposals concerning the future regulatory reporting requirements for... Read More >
- Sewer mapping partnership to aid Northumbrian response times An innovative partnership between Northumbrian Water and data management specialists 1Spatial has helped the utility... Read More >
- Final phase of North Tyneside flood project to begin The final phase of a £6 million North Tyneside flood reduction scheme will begin next week. Read More >
- Interview: Ofwat director Trevor Bishop Ofwat director Trevor Bishop explains why the regulator wants to ensure wastewater resilience becomes just as central to... Read More >
- Developer services charging: an analysis of PR19 business plans Fair Water Connections managing co-ordinator Martyn Speight provides an initial evaluation of data, specific to water... Read More >
- Bridging the gap: Tackling diversity in the water sector The water industry faces a substantial skills gap in the coming years, but could a greater focus on gender and diversity... Read More >
- Fostering a safety culture in the water industry Having the right culture is often the key to achieving excellence in safety compliance and performance. Here, David... Read More >
- Working together to make our waters healthy again New collaboration between water companies and NGOs is required to raise the ecological status of our watercourses, which... Read More >