The Consumer Council for Water has this morning welcomed the publication of the Public Account Committee’s report and recommendations on the economic regulation of the water industry.
Tony Smith, Chief Executive of the Consumer Council for Water (CCWater), said: “We welcome the committee’s findings which echo the concerns we have repeatedly raised with Ofwat that it has been too generous to water companies in past price settlements, to the detriment of water customers. Our pressure helped to ensure the 2014 Price Review marked a step in the right direction. Ofwat needs to build on this and deliver a fair balance between company shareholders and customers. CCWater will be watching closely to make sure this happens.”
“We are also pleased the PAC recognises our concerns on affordability, with one in eight customers having told CCWater their water bills are not affordable. We support the committee’s view that much more needs to be done to address this issue.”