PR04 - Phase One - Framework and Issues

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Ofwat home > Publications > Price reviews & interim determinations > Price review 2004 > Phase 1

PR04 Phase one: Framework and issues

The first phase of the periodic review 2004 was concerned with setting out the framework for the review.

We began in October 2002 with an open consultation on our approach to the review and the information we would need to collect from companies.

In January 2003 we received initial guidance from Defra Ministers on the environmental and water quality improvement requirements that companies need to make during the review period and in March 2003 we received initial guidance from Welsh Assembly Government.

Our decisions on our approach, based on the consultation, were published in March 2003. And in the same month we set out the reporting requirements for the draft business plans.

This phase is now complete.

Key documents relating to this phase are:

Consultation responses

Phase one timetable

October 2002	Open consultation on 'Ofwat's approach to the periodic review 2004' and supporting information requirements
November 2002	Market Research Stage 1 – Report published
December 2002	Receive initial guidance from Ministers on two scenarios for environmental and water quality improvement and guidance on social issues
January 2003	Consultation period ends
Quarter 3	Consult on cost base information requirements
March 2003	Publish decisions on Ofwat's approach to the periodic review 2004
March 2003	Issue information reporting requirements for the draft business plan
May 2003	Release update of financial model. Issue draft business plan ICS. Publish initial feedback on cost base submissions so that companies are aware of their comparative costs when they produce their draft business plans. Confirm reference assumptions.