Ofwat has launched a new consultation on its proposed approach to how bioresources activities could be funded at the upcoming Price Review in 2024 (PR24).
Earlier this year the regulator published its review of the bioresources market which identified a number of issues that need to be addressed to support the market. Ofwat consulted on proposals to address the issues, including how it could improve how we determine the funding for companies’ bioresources activities at the next price review in 2024.
Having considered the consultation responses, Ofwat has now published a new consultation paper which:
- consults on additional information that companies would be expected to provide alongside their regulatory reporting for 2021-22 to improve Ofwat's econometric cost benchmarking models;
- consults on more detailed proposals for a new approach to how bioresources activities could be funded at PR24; and
- includes a request for information to enable Ofwat to inform, and potentially help implement, its preferred approach.
Closing date to submit reponses to the consultation and when the required information should be submitted by is 5pm on 10 February 2022.
Click here to download Ofwat consultation paper Our proposed approach to funding bioresources activities at PR24
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