Ofwat has announced that all but one company has accepted its final determination, which set limits on the prices companies can charge between 2015 and 2020. Ofwat’s 2014 price review is good news for customers in England and Wales with average bills due to fall by around five per cent in real terms by 2020, while at the same time seeing improved levels of service. It is now for companies to deliver their plans.
Following Ofwat’s December final determinations, companies had until 12 February to appeal. Bristol Water has asked for its final determination to be referred to the Competition and Markets Authority (CMA) for review. The other seventeen water companies have accepted their final determination.
Ofwat will refer Bristol Water’s final determination in due course and work with the CMA, and all other relevant stakeholders, to help continue to protect the best interests of customers.
Notes to editors
- The Water Services Regulation Authority (Ofwat) is the economic regulator of water and sewerage companies in England and Wales. It exercises its powers in a way that it judges will protect the interests of consumers, promote value and safeguard future water and sewerage services by allowing efficient companies to carry out their functions properly, and finance them.
- Media enquiries to Ofwat Press Office on:
Benedict Fisher 0121 644 7642 / [email protected]