Water UK response to Ofwat’s consultation PR24 and beyond – Creating tomorrow together
We agree that the water sector faces profound challenges in the coming years and decades and that now is the time for action to ensure that these challenges are met.
This must include rethinking the approach to price reviews – to achieve different, and better, outcomes for customers, communities and the environment, we will all need to do things differently.
We are encouraged that the ambitions for PR24 and beyond set out by Ofwat recognise this need for change, and much of the direction of travel in the document is welcome. However, to genuinely achieve the focus on the long term that we all recognise is necessary will need greater clarity about the long-term direction of regulation and the enduring principles that will apply over successive price reviews.