Water UK response to Ofwat consultation on the methodology for PR24
We support the intentions in the draft methodology of focusing on the long term, ensuring a level playing field between different ways of delivering outcomes, delivering greater environmental improvements and moving faster towards net zero. However, we think there are areas where the final methodology could be bolder and that there are significant gaps that need to addressed. We also have serious concerns about the draft methodology, including the lack of weight attached to the findings of longest and most considered set of water price review Redeterminations ever undertaken.
The industry looks forward to working closely with Ofwat and other stakeholders so that the final methodology for PR24 provides a firm foundation for the sector to rise to meet the significant challenges it faces.