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Ofwat has set outs its work programme for 2015/16 which has been designed to help the regulator meets its new strategy.
The forward work programme sets out a number of “early and important building blocks” that will be used the help Ofwat meet its new ‘Trust in water’ strategy which builds on the outcomes focussed approach that the regulator used for the PR14 price review.
The programme includes: strategy and planning – establishing the regulator’s view of the sector and how this will be achieved; casework – in particular to ensure the opening of the non-household retail market to competition is “effective”; finance and governance; Water 2020 – implementing the non-domestic water market and developing the framework for PR19; and developing a regulatory framework for the Thames Tideway Tunnel infrastructure provider.
Ofwat adds that over the coming year “a number of factors” could change its plans, including the general election in May, the Welsh government’s water strategy in 2015, and the development of the Thames Tideway Tunnel – including any legal proceedings against the project.
The regulator says its work programme takes into account the impact of the government’s comprehensive spending review, which has scaled back Ofwat’s budget by 10 per cent, but adds it may have to “re-prioritise” depending on how many – if any – water companies refer their final determinations to the Competition and Markets Authority.
Ofwat chief executive Cathryn Ross said: “Securing trust and confidence in vital public water and wastewater services can benefit us all. But it is an ambitious and complex task, which will take time to deliver.
“Also, we cannot deliver it alone. We need the water sector in England and Wales – and everyone with an interest in it – to work with us and together, listening and communicating to build trust and confidence among customers, investors and within society.”
The consultation period on Ofwat’s forward work programme is open until 5 February. The final version will be published on 31 March.
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