Regulatory compliance
The regulatory compliance project aims to answer the questions:
How should we monitor companies to make sure that they meet their obligations and develop appropriate service standards?
How do we improve companies' incentives to comply and how should we hold them accountable if they don't?
As our regulatory system changes and adapts, we need to make sure that we continue to keep the companies accountable. We also need to be efficient when we do this – making sure that regulation is at the minimum cost to customers and the minimum burden on companies needed.
Developing our compliance framework
This work aims to create a risk-based framework for compliance that:
- develops incentives to encourage the companies to take full responsibility for complying with their obligations to customers and the environment
- assigns responsibility for compliance (and for demonstrating compliance) with those entities that are empowered to achieve compliance
- looks to reduce the regulatory burden
- strengthens the reliability of companies' reporting
- targets the more risky areas or companies
- protects the interests of consumers.
Further information
Our publications on the regulatory compliance project will be listed below. If you would like to speak to someone about this project, please contact Ingrid Olsen via email ingrid.olsen@ofwat.gsi.gov.uk or by calling 0121 644 7525.
Delivering proportionate and targeted regulation – Ofwat’s risk-based approach
29/Mar/2012 (HTML - 5 KBytes)Regulatory compliance – a proportionate and targeted approach: A consultation
5/Oct/2011 (PDF - 521 KBytes)Getting it right for customers – how can we make monopoly water and sewerage companies more accountable? Summary of responses
10/Mar/2011 (PDF - 159 KBytes)Getting it right for customers - how can we make monopoly water and sewerage companies more accountable?
24/Nov/2010 (HTML - 4 KBytes)Improving regulatory reporting and compliance
A report prepared for Ofwat by Keith Harris
25/Oct/2010 (PDF - 111 KBytes)