5th Oct 2016 07:27
LONDON (Alliance News) - UK water and sewerage regulator Ofwat said on Wednesday that it has laid out its final proposals for reconciling the incentives for regulated companies based on their performance during the price review period between 2010 and 2015.
Ofwat sets price controls for UK water companies every five years and sets them certain targets, focused on everything from the level of customer service offered to the amount of investment that is made into regulated assets, which then results in water companies receiving a reward or being penalised dependent on their performance.
Now that water companies have provided all the information needed concerning the 2010 to 2015 period, Ofwat has published a consultation on the final reconciliation for the period and now has all the information it needs to update the current price review period covering 2015 to 2020.
That information will also be used by Ofwat for the next price review period starting in 2020 and ending in 2025.
The regulator said the majority of adjustments to be made following the collection of information from the 2010 to 2015 period will be implemented as part of the 2020 to 2025 period, but said it has published "minor updates" to the plan for the current period between 2015 and 2020.
By Joshua Warner; [email protected]; @JoshAlliance
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