UK water regulator gets £11m boost

Posted at May 16, 2023 » By : » Categories : News » Comments Off on UK water regulator gets £11m boost

Ofwat, the water regulator, has received approval for an £11.3 million increase in funding from HM Treasury.

This boost will enable Ofwat to expand its enforcement capacity threefold, empowering them to hold water companies accountable for their failures.

The increased budget is expected to equip Ofwat to drive changes within water companies and ensure they meet their obligations.

Moreover, it will enable effective oversight of the upcoming price review (PR24), which demands greater investment from water companies to enhance environmental performance and sector resilience.

This financial injection has been warmly received by David Black, the Chief Executive Officer of Ofwat, who highlighted its significance in demanding better performance from water providers and effecting desired changes in the sector.

Water Minister Rebecca Pow expressed her approval of the funding increase, emphasising the need for water companies to demonstrate greater ambition in protecting the environment while fulfilling their fundamental responsibilities.

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