"Ofwat’s announcement today responds to our submission for record investment over the next 5 years in order to deliver significant improvements to the services we provide."
“We welcome the fact that Ofwat have responded to the representations that we made after Draft Determination to allow more of what we had requested in our business plan, recognising that there are some very challenging performance targets including reducing leakage and spills from storm overflows.
“The Final Determination published this morning would see customer bills increase notably ahead of inflation. Any price increases are never welcomed, and we have always sought to keep these to a minimum, however, bill increases have not kept up with inflation over the past 15 years. Whilst Ofwat has challenged us hard on our plans and on efficiency, we – like the rest of the sector - would not be able to finance the needed increase in investment in a sustainable manner without increasing bills. We will ensure, however, that we continue to provide the most financial support we can to customers who struggle with their bills.
“We are keen to deliver against our long term objectives to improve performance, adapt our networks to the climate crisis to better cope with high volumes of rainwater in sewers, and do more to protect our rivers and seas.
“Throughout the process, we have been committed to working with Ofwat, as well as stakeholders such as CCWater, the Drinking Water Inspectorate, Natural Resources Wales and our Independent Challenge Group, to ensure that we are able to deliver a plan that meets the needs and expectations of our customers. This will continue to be the case as we consider the detail and full implications of Ofwat’s Final Determination.”
An overview of Welsh Water’s PR24 Final Determination is available here.