Ofwat Chairman Jonson Cox is warning UK water companies to get ready for a period of “peak intrusion.”
Ofwat Chairman Jonson Cox is warning UK water companies to get ready for a period of “peak intrusion.”
In an interview published in the Financial Times newspaper yesterday, Cox described the sector as “close to peak intrusion” and said a period of more intense oversight was needed “to get the industry back on an even keel.”
According to the Financial Times, Ofwat intends to to take up an offer put forward by Environment Secretary Michael Gove MP in 2018 to provide the regulator with greater powers to control the sector’s behaviour. As part of this Ofwat will seek more freedom to alter the current terms of company licences, described as excessively “clunky” by Cox.
A report in the world’s leading financial newspaper at the end of January suggested that some of the biggest global infrastructure investors had introduced a “blanket ban” on further investment in UK rail, energy and water projects.
Several influential infrastructure investors had told the Financial Times that it is “highly unlikely” they would make any further investments in the UK, citing the country’s current “very negative” and “hostile” political and regulatory environment.
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