Water industry regulator Ofwat has confirmed that it will today refer Bristol Water’s final determination to the Competition and Markets Authority (CMA).
The referral follows the announcement on 13 February 2015 that 17 companies had accepted Ofwat’s final determinations and Bristol was the only company to ask Ofwat to refer their final determination to the CMA.
Ofwat's Final Determination in December 2014 set the allowed level of total wholesale expenditure for Bristol Water at £409m and reduced the average household bill from £197 to £162 in the first year followed by four years of £152; this amounts to a 23% reduction (figures are based 2012/13 price base).
Bristol Water’s business plan for 2015 to 2020 had proposed wholesale expenditure of £541m and a reduction in average household bills of 4.5%, or £9 in real terms, to £188.
The process is now taken forward by the CMA who will re-open Bristol’s final determination. The CMA will be asked to report on and determine the disputed determination within a period of six months starting from today.
Ofwat will work with the CMA during the process.
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