Our performance

We report on our performance each year in our annual report and accounts.

Our annual report includes a description of the work we carried out during the year to deliver our legal duties. And it includes the accounts for the operation of the Water Services Regulation Authority (Ofwat) under International Financial Reporting Standards (IFRS). They have been prepared on an accruals basis in accordance with the Government Financial Reporting Manual (FReM).

Our duties are laid out primarily in the Water Industry Act 1991 as amended (WIA91). We are directly accountable to Parliament and the National Assembly for Wales.

2015-16 performance

Download Ofwat’s annual report and accounts 2015-16 (PDF)

Our Trust in water strategy is the means through which we fulfil our statutory duties. We also carry out our relevant functions in accordance with the statements of strategic priorities and objectives we receive from the UK and Welsh Governments. Our priorities for 2015-16 were as follows.

  1. Implementing Water Act reforms and preparing for the 2019 price review.
  2. Maintaining customer confidence through a period of change.
  3. Maintaining investor confidence in the sector through a period of change.
  4. Monitoring sector performance.
  5. To ensure that Ofwat has the skills, experience, systems, processes and culture that support our new strategy.

Our 2015-16 forward programme set out our plans for delivering these priorities.

Below we summarise our performance for each priority – and our financial, accountability and sustainability performance.

1. Implementing Water Act reforms and preparing for the 2019 price review

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2. Maintaining customer confidence through a period of change

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3. Maintaining investor confidence in the sector through a period of change

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4. Monitoring sector performance

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5. To ensure that Ofwat has the skills, experience, systems, processes and culture that support our new strategy

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Finance, accountability and sustainability

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