The Water Watchdog is ready to challenge water companies whose future price and investment plans fail to meet consumers’ expectations.
A key milestone in the five-year price-setting process – known as the Price Review – was reached today as water companies from across England and Wales submitted their business plans for 2020-2025 to the regulator Ofwat.
These set out in detail companies’ commitments to consumers on a wide range of services and what they propose to charge their customers to fund the investment needed to deliver these plans.
Over the coming months CCWater will be scrutinising the plans closely to ensure they deliver what customers want, at a price they find acceptable and affordable.
Tony Smith, Chief Executive of the Consumer Council for Water, said: “This price review could define the future of the water industry in England and Wales. Reputationally, there is a huge amount at stake, and today’s publication of business plans represents a key opportunity for water companies to restore consumer trust by proving to their customers that they’re taking positive and decisive action on the issues customers care about. We will be spending the coming weeks and months scrutinising these proposals and challenging companies that we think have come up short in meeting the needs of customers, while pressing the regulator to make sure the plans minimise any bill impacts on customers.”
A final decision on water companies’ plans will not be made by the regulator until December 2019.
Visit your water company’s website for more details on their plans for 2020 to 2025.