PR19: CMA - Revision to Administrative Timetable

RNS Announcement

BRISTOL WATER PLC

Competition and Markets Authority Redetermination of Ofwat Price Determination

Revision to Administrative Timetable for completion of Redeterminations

Ofwat published its Final Determination for Bristol Water plc on 16 December 2019 setting out Ofwat's final Determination of the allowed revenues and service delivery targets for Bristol Water plc in the next five year regulatory period commencing on 1 April 2020 and ending on 31 March 2025. 

On 13 February 2020 Bristol Water asked Ofwat to refer its Final Determination to the Competition and Markets Authority ("CMA") for redetermination by the CMA (the "Redetermination"). Ofwat submitted its referral to the CMA on 19 March 2020, together with referrals of the final determinations of three other companies for redetermination.

On 17 October 2020 the CMA published its summary of Provisional Findings in relation to all four companies, including Bristol Water plc.

The CMA has today published a revision to its Administrative Timetable for the completion of the Ofwat Price Determinations. It is now anticipated that the CMA will publish is Final Redetermination in relation to Bristol Water plc in February 2021. This represents a delay from the previous timetable, which had expected publication in December 2020. As a result, Bristol Water plc will be required to reflect Ofwat's original PR 19 Final Determination (adjusted for Ofwat's 2019/20 "Blind Year" adjustment final decisions as determined) in its charges for the financial year commencing 1 April 2021.

A link to the CMA's revised administrative timetable can be found here: https://www.gov.uk/cma-cases/ofwat-price-determinations#administrative-timetable

Bristol Water plc

Dated: 17 November 2020

For further information contact:

Helen Hancock, Company Secretary +44 (0) 117 934 1108 or +44 (0) 7976 7318147

LEI Number 549300V0DVQGSADLDB82