Jul 4, 2019
UK water regulator reports ‘substantial concerns’ over cost proposals
Britain's water regulator has warned a quartet of private companies that provide the utility that the business costs they have calculated in order to set water prices are too high. Ofwat reported "Substantial concerns" over cost proposals submitted by Anglian Water, SES Water, Thames Water and Yorkshire Water for doing business in the next half decade, the watchdog's latest move as it wrangles with private water providers over the prices they will charge consumers in the 2020-2025 period. "In particular Anglian Water, Thames Water and Yorkshire Water have asked us to allow them significantly more money than they currently spend on base or ongoing expenditure for wholesale water and/or wastewater services," Ofwat said in a statement. On Thursday, Ofwat said there was a "Significant gap between its view of efficient costs for retail and wholesale costs", and those of Anglian, SES Water, Thames Water and Yorkshire Water. "We are disappointed that revised proposals from Anglian Water, SES Water, Thames Water and Yorkshire Water have not yet risen to the challenge we have set them," commented Ofwat senior director David Black.
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