Helpful steps taken by the Competition and Markets Authority in their provisional findings on the review of water price controls
Lawrence Slade, Chief Executive, GIIA said:
“It is important that regulation ensures that consumers across the country pay a fair price for their utilities, whilst at the same time making sure that the UK is able to attract the level of investment required to address resilience to climate change impacts and meet the UK’s legally binding commitment to achieve Net Zero carbon emissions by 2050. These issues will require extensive investment in the UK’s infrastructure over the coming decades and the associated costs must be fairly allocated to provide inter-generational equity between current and future consumers.
The CMA’s provisional findings indicate that some adjustments are needed to Ofwat’s price determinations in order to achieve the right balance, and we agree. GIIA will be submitting further evidence in response to the CMA’s provisional findings and we will continue to encourage the Government, Regulators and Investors to create the necessary environment to meet the UK’s future water and energy needs at the same time as achieving a fair deal for all consumers.”