Regulation and Legislation
Ofwat’s Price Review 24 draft determinations are proposing to make up to £1.21 billion available to fund development expenditure costs for RAPID Strategic Resource Options (SROs) over the 2025-30 period.
Newly-appointed Secretary of State for Environment, Food and Rural Affairs, Steve Reed has described the proposed water bills rises announced by Ofwat this morning as “the result of years of failure.”
Water sector regulator Ofwat has today proposed allowing a total spending package of £88 billion by water companies in England and Wales – a reduction of £16 billion from the water companies’ proposals.
Steve Reed MP, the new Secretary of State for Environment, Food and Rural Affairs, will meet water company chiefs in England and Wales this morning to set out the Government’s plans to overhaul the water sector.
Ofwat has published its Annual Report on the Ofwat Innovation Fund for 2023-24, setting out progress since its last report in July 2023, further improvements which could be made in innovation performance in the water sector and outlining next steps for the fund.
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Thames Water starts work on £20 million pipe upgrade in Islington February 13, 2024
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