PwC is Ofwat's delivery partner for price review
Ofwat has appointed PwC as delivery partner for its 2014 price review. PwC will provide advice, analysis and assurance through the price control process.
The appointment of PwC follows the regulator’s changes to the way it sets prices to create a more efficient, dynamic and customer focused sector. Independent analysis shows that these changes could generate more than £2B of benefits by setting separate retail controls and encouraging more water trading alone.
Sonia Brown, Ofwat’s chief regulation officer, said: “Changing how we regulate water companies is going to be good news for customers, the environment and the economy. We are already seeing a change in the culture of the sector and we want companies to take ownership of their business plans and engage more effectively with their customers.
“The support of PwC will help ensure we are able to get the best deal possible for customers and the environment over the next five-year period.”
David Lancefield, head of economics and policy at PwC, said: “We recognise the vital importance of the water industry for UK consumers, business and the environment. We are delighted to have been chosen to help Ofwat conduct a pricing review that supports its clear goals to create a more efficient, effective and environmentally friendly sector.”
As part of the contract, which runs until the end of 2014, PwC will work with its partners CEPA and Jacobs.
Ofwat will carry out its risk based review of each company’s business plan from December to March in 2014, and will set final limits on the prices companies can charge by January 2015.
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