One of the ways we deliver our duties is to set the price, investment and service package that customers receive. This includes controlling the prices the companies can charge their customers. The decisions we make will affect bills from 2020.
We are consulting on the way we set price controls by publishing our draft methodology on 11 July 2017, and will set final price limits in December 2019.
The price review is an important tool for delivering trust in water. PR19 provides the framework for a resilient long-term future for water, providing more of what matters to customers at a price they can afford and are willing to pay.
We plan to deliver PR19 in a way that is customer focused, long-term and incentivises companies to innovate and be ambitious. We will make greater use of markets where appropriate in PR19, together with proportionate and targeted regulation to ensure that companies deliver the things that matter most to their customers.
Four key themes
Customers in England and Wales want high quality, sustainable and resilient water and wastewater services, at a price they can afford. Trust in water means providing these services today, together with the confidence that future bills will be affordable and resilient and that the environment will be protected.
We have set out a number of milestones for PR19.
Benefits of the price review
We're aiming for more of what matters in PR19.