Ofwat publishes sustainable water strategy

Ofwat, the UK’s water watchdog, has published a three-year strategy for the regulation of water and sewage.

The strategy aims to keep companies accountable, protect consumers, and ensure the long-term sustainability of water supplies.

The last aim is particularly important as the water industry begins to face up to the challenges of climate change.

The strategy sets out how Ofwat plan to regulate prices to protect customers where competition is not possible or not strong enough.

Ofwat will be opening the market to further competition, as it believes that this will benefit water customers.

Ofwat also plans to start publishing the financial results of water firms in an attempt to encourage water companies to produce accurate data, and to make companies accountable to customers as well as shareholders.

Ofwat’s budget for 2008-2009 is £17.9 million, higher than the previously anticipated £13.7 million.

This extra money will help finance projects such as an extensive price review, promoting competition, and the Thames Tideway Scheme.