Tag: ofwat

July 23, 2019

Ofwat further protects customer interests with new guidance on companies’ ring-fencing obligations

Water companies trying to create financial arrangements otherwise prohibited by their licence, which might include things like intercompany loans up to the parent company, will have to clearly show how the arrangements serve customers’ interests or they will be blocked

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June 12, 2019

Ofwat calls for information for a bilateral market in water resources

Water regulator Ofwat is seeking views from interested parties about the development and implementation of a bilateral market in water resources in England. A bilateral market would allow water resource providers, other than the incumbent water company, to contract directly

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January 31, 2019

2019 price review: three water companies over the line at first hurdle with high quality plans

Water regulator Ofwat has today given its initial assessment of water companies’ business plans for 2020-25. Three water companies – Severn Trent, South West Water and United Utilities – delivered such high-quality plans that they have already been given the

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January 21, 2019

Ofwat’s revamped Principles put strong focus on purpose, values and culture

Water regulator Ofwat has today published its revised board leadership, transparency, and governance Principles. First introduced in 2014, Ofwat launched a review of its Principles last year, following public concerns raised over corporate behaviours in the water sector. Among the

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January 11, 2019

Ofwat to consult on changes to Regulatory Accounting Guidelines

Water regulator Ofwat has proposed a number of changes to its Regulatory Accounting Guidelines (RAGs) which set out in detail how water companies must treat particular items where disclosure and reporting requirements go further than those normally required under company

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December 4, 2018

Business retail water market: Three more big businesses take the plunge into self-supply

Pub, cider and beer company Heineken UK, pub company Stonegate and textile rental and laundry service company Elis, have become the latest companies to be granted licences to self-supply in the business retail water market by economic regulator Ofwat. Each

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November 23, 2018

Ofwat calls for fairer, faster, more hassle free compensation for water customers

Water regulator Ofwat has recommended an overhaul of compensation arrangements for water customers who are left off supply.  The proposed changes, which come on the back of the regulator’s review into water companies’ handling of the ‘Beast from the East’

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November 21, 2018

Ofwat eyes measures to shore up water companies’ financial resilience

Ofwat is today moving to strengthen water companies’ financial resilience by calling on them all to adopt a common set of standards. This would include strengthening requirements to maintain an investment grade credit rating and accepting restrictions on pay-outs to

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July 20, 2018

Smarta Water, Tor Water and Utility Bidder become the latest entrants to the business retail water market

Smarta Water, Tor Water and Utility Bidder have been awarded Water Supply and Sewerage Licences (WSSLs) by economic regulator Ofwat to operate in the business retail water market. All three retailers can now supply water and remove wastewater for eligible

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