Water Companies: China
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, what estimate his Department has made of the level of funds invested by Chinese firms in the UK water sector in the next ten years.
Answered by Emma Hardy
The Government recognises the important role of independent regulation in attracting the investment our water sector needs to deliver for both current and future consumers. We are aware there has been investment into the water sector in the UK by Chinese investors. Under Ofwat’s current processes, Ofwat are notified of acquisitions in line with water company licence conditions.
Ofwat, as the independent economic regulator, protects the interests of consumers by making sure water companies carry out their statutory functions and are financially resilient as well as holding them to account on overall performance and delivery of essential services.
These same standards and licence conditions apply across all water companies, regardless of whether they are owned by foreign or domestic investors.
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