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Update June 2020 - The impacts of Covid-19 are being felt across the whole of the UK economy. Understandably, this is a time of considerable uncertainty for all market participants and Ofwat has to ensure that it continues to protect the interests of customers in the business retail market. Within this context, Ofwat has to ensure prospective licensees provide robust evidence and assurance of their financial stability. We are publishing this clarification to our guidance for Water Supply and Sewerage Licence (WSSL) applications (https://www.ofwat.gov.uk/wp-content/uploads/2018/05/App-guidance-for-WSSL-v3-1.pdf) (‘our guidance’) to set out our expectations.