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Media centre
Ofwat today published its work plan for the next three years. Our work will focus on the following key activities: Periodic review of price limits 2004 In November 2004 we will set new price limits for the companies to cover the period 2005-2010. We look forward to working closely with the companies, government, WaterVoice, quality regulators and other stakeholders, as we approach the next critical phase of the review. The key work in 2003-04 will be the analysis of the companies' draft business plans, which we will receive in August. Water Bill We will provide support to DEFRA as it takes the Bill through Parliament. Together with DEFRA, WaterVoice and the companies, we will begin more detailed work on the developments arising from the Bill, notably on competition, and setting up the Authority and the Consumer Council for Water. Safeguarding customers Ofwat will continue monitoring company performance across a broad range of factors related to quality of service, tariffs and company investment outputs. We will publish our findings and if required take the necessary regulatory action. Ofwat's resources Ofwat represents value for money. For four years, we have held our call on customers to £11.9 million or less each year. Within that ceiling we have completed the periodic review, met new statutory requirements and developed a new financial model to share with the industry. For 2003-04 we expect to have to increase our cash call to £12.6 million, representing an annual cost of around 50p per customer. The increase is still well below the rate of inflation over the last four years. Notes: 1. Copies of the 'Ofwat Forward Programme 2003-04 to 2005-06' are available free of charge on Ofwat's website: www.ofwat.gov.uk or from the Ofwat library on 0121 625 1373. 2. The Director General of Water Services is the economic regulator of the water and sewerage companies in England and Wales. He exercises his powers in a way that he judges will allow them to carry out their functions properly, and finance them. Customers' interests are represented by WaterVoice. ENQUIRIES TO OFWAT PRESS OFFICE ON: 0121 625 1416/1496/1450 Out of hours enquiries to pager: 08700 555 500 water 509. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk  | ||||||
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