South East Water has today announced that it has asked Ofwat to refer its PR24 Final Determination on its AMP8 Business Plan to the Competition and Markets Authority for a redetermination.
South East Water has today announced that it has asked Ofwat to refer its PR24 Final Determination on its AMP8 Business Plan to the Competition and Markets Authority for a redetermination.
Announcing the request for a referral, South East Water said the Business Plan remains the company’s most ambitious plan ever. The AMP8 Plan detailed a proposed investment of £1.9 billion over five years with goals to improve customer service, reduce customer supply interruptions and strengthen network resilience.
A statement issued by the water company says:
“In the Final Determination, the Board believes that the response does not address our company specific circumstances and external challenges, such as concerns over water security for our customers and climate change resilience.
“The Board of SEW is unanimous in its conclusion to seek the only redress it now has available in the regulatory process, being an independent review by the CMA.”
Commenting on the decision, SEW Chairman, Chris Train said:
“Asking for the Final Determination to be referred to the Competition and Markets Authority for redetermination is not a decision we took lightly. We have scrutinised the Final Determination and agree unanimously that in its current format, it presents a risk to water security for our customers in the region.”
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