Wessex Water has accepted Ofwat's PR19 final determination for its AMP7 2020-25 business plan - the fourth company to publicly accept the regulator’s decision.
Wessex Water has accepted Ofwat's PR19 final determination for its AMP7 2020-25 business plan - the fourth company to publicly accept the regulator’s decision.
United Utilities, Welsh Water and Severn Trent have already accepted the water sector regulator's determinations.
Deadline for the remaining companies to respond either by accepting Ofwat’s final determination or to notify the regulator of their intention to refer the decision to the Competition and Markets Authority is 15 February 2020.
According to Thomas Sharpe QC, who has acted in most regulatory appeals in water, energy and communications, the battle ground in most price control appeals is “financeability” – in his view, any company considering an appeal starts one down.
A spokesperson for Wessex Water commented:
“While the board has accepted the determination, customers want more investment in infrastructure to future-proof services – for example, to deal with climate change. We believe long-term investment is needed, not short-term bill cuts.”
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