The Consumer Council for Water has welcomed the publication of a report by the National Audit Office (NAO) examining the regulation of the water sector. The report recognises that regulation of the industry has delivered improvements to many of the services that matter most to customers.
But CCWater also supports the NAO’s findings that past price settlements overseen by the regulator Ofwat have been too generous to water companies.
Tony Smith, Chief Executive of the Consumer Council for Water, said: “We are pleased the NAO recognises the significant benefits regulation has delivered for customers.
“We also support its view that Ofwat has been too generous to water companies and their investors in its past settlements – something we have consistently highlighted and fought hard to change. Ofwat has now listened and delivered a price settlement in 2014 which had the interests of customers much more at its heart. This was reflected in a good deal for most customers on price and service. We will continue to press the industry and Ofwat to do even more to strike a fair balance between the interests of customers and investors.”