Ofwat: Cost Effectiveness
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, what assessment his Department has made of the effectiveness of OFWAT in delivering value for money for consumers.
Answered by Emma Hardy
We are confident that Ofwat are delivering their core functions effectively.
Ofwat holds water companies to account for the delivery of affordable, secure and resilient water services. Ofwat must protect the interests of consumers whilst ensuring the companies properly carry out and finance their statutory functions.
It is Ofwat's responsibility to independently scrutinise water company business plans and ensure that the prices water companies charge their customers are fair and proportionate. Ofwat’s final determination saved customers £11 billion compared to what companies initially proposed in the next price review period.
Furthermore, the Independent Water Commission, launched in October 2024 by the UK and Welsh Governments, will consider the roles and responsibilities of the water industry regulators and how we can ensure our regulators operate as effectively as possible.
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