In the biggest overhaul since its privatisation, the UK Government has announced that Ofwat in its current form, under 4 different water regulators, has been abolished. One single regulator responsible for the entire water sector is to come into fruition. Its aim, to eradicate its current contradictory and competitive nature, reassessing priorities and cutting water pollution in England’s rivers, lakes and seas.
The pledge oversees maintenance and investment in water infrastructure so that the industry is never again hit by the shocking bill hikes witnessed in the latest price review.
With water bills forecast soar by an average 30% over the next 5 years, the new reform is set to provide clarity and better direction to the current broken system, attracting the billions of pounds of new investment required.
The proposals will be consulted on this autumn and form the basis of a new Water Reform Bill.
The new regulator is said to stand firmly on the side of customers, investors and the environment, cutting sewage pollution by half by 2030 – based on a new, higher baseline of pollution in 2024 compared with previous targets relating to 2021.
The price hikes witnessed in the latest review all add to existing cost pressures. Our Water Team is here to help you manage these challenges by reducing costs, identifying efficiencies, conserving water usage, and lowering your carbon footprint.
Call us today on 0116 234 6107 to see how this may affect you.
