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Regulation and Legislation

International investors in the UK water companies led a delegation at a meeting with the Treasury last week to warn that Ofwat’s tough PR19 plans are “unfinanceable” and express their concerns that the regulator has become politicised, according to a report in yesterday’s Sunday Times newspaper

EAC BIOSECURITY The House of Commons Environmental Audit Committee is calling for a ‘citizens’ army’ to tackle the growing threat from invasive species, estimated to cost Britain’s economy £1.8 billion a year.

The Environment Agency has today launched a six month-long consultation on the future of the water environment and rivers in England.

OFWAT CONSULTATION ON THAMES WATER SALE OF LAND ACQUIRED FOR TIDEWAY TUNNEL OCT 2019Ofwat has launched a new consultation on proposals which would see Thames Water customers bear only 80% of any potential losses from the sale of Thames Tideway Tunnel project land, rather than bearing the losses in full.

Ofwat has published a paper setting out its expectations, assurance and information requirements for water company charges for 2020-21, including how it expects water companies to engage with customers and stakeholders when developing their charging policy and charges.

Defra has published a new policy statement setting out how the government’s Environment Bill will put the environment at the centre of policy making – including how it intends to deliver sustainable water resources.

TOM SHARPE QCIn an Expert Focus article for Waterbriefing, Tom Sharpe QC discusses some of the issues about the water companies' options on deciding whether or not to appeal regulatory determinations in the run-up to the publication of Ofwat’s Final Decisions on the draft Business Plans in the 2019 Price Review. 

ladybower reservoirNew measures to protect water resources, together with new powers to direct water companies to work together to meet current and future demand for water, form part of a New Environment Bill included in the Queen’s Speech published yesterday. 

construction-15759 640The Competition and Markets Authority (CMA) has launched yet another investigation into suspected anti-competitive arrangements in the UK construction sector.

NIC REPORT STRATEGIC INVESTMENT  PUBLIC CONFIDENCEThe National Infrastructure Commission is warning that the UK will fail to reach net zero greenhouse gas emissions by 2050 if regulators aren’t given new powers to ensure utility companies invest in sustainable infrastructure.

STERLINGA new report on the water, energy transmission and gas distribution sectors from Moody's Investors Service is warning that UK regulated utilities will see significant cuts in revenues and weaker credit metrics from the start of the next regulatory period as regulators limit returns.

OFWAT STRATEGY OCT 19Ofwat has today published a new strategy to help transform water company performance, meet long-term challenges and embed public purpose into the sector.

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