Water regulator Ofwat delays publication of price review

Reuters

Updated 24 May 2024 at 8:14 am·1-min read

(Reuters) -Ofwat, which regulates the water industry in England and Wales, is delaying the publication of its consultation on price review 2024 for the water sector by a month to July 11 due to the upcoming general election, it said on Friday.

British Prime Minister Rishi Sunak called a national election on Wednesday, naming July 4 as the date for a vote, which his governing Conservatives are widely expected to lose to the opposition Labour Party after 14 years in power.

The regulator sets a price control in the sector every five years. The controls as part of the price review 2024, led by Ofwat to determine prices for the 2025-2030 period, will come into effect on April 1, 2025, despite the delay.

Water companies in England and Wales are required to work with customers to provide a business plan to the regulator, showcasing what they intend to deliver for customers and the environment.

"Currently looking into the impact the date change will have on the rest of the price review process," Ofwat added in the statement.

(Reporting by Anchal Rana in Bengaluru; Editing by Vijay Kishore)

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