Northumbrian Water Ltd (NWL) has announced this morning that it has rejected to refer its Ofwat’s Final Determination on its AMP7 Business Plan and asked the regulator for a referral to the Competition and Markets Authority (CMA) for review.
Announcing the decision, Northumbrian Water said that following detailed review of Ofwat’s PR19 Final Determination, the company had “firmly concluded that firstly it falls well short of what customers clearly stated were their priorities” and secondly, that it would “adversely impact the long term financial resilience of the company.”
A statement issued by Northumbrian said:
“The Board of NWL is unanimous in its conclusion to seek the only redress it now has available in the regulatory process, being an independent review by the CMA.”
Commenting on the decision, Chief Executive Officer, Heidi Mottram CBE said:
“NWL is a high performing and efficient company with a long track record of delivering for our customers and protecting the environment. We have listened carefully to our customers in the development of our business plan.”
“ Our assessment of the PR19 Final Determination is that it is contrary to the long term best interests of our customers and doesn’t provide for sustainable investment going forward, to the detriment of all our stakeholders. We have therefore asked Ofwat to refer the PR19 Final Determination to the CMA for review.”
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