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IB 03/05 | 14 January 2005 |
Terms of reference agreed for Ofwat's review of Periodic Review 2004 |
Ofwat today published the Terms of Reference for the recently-established review into the two-year process of setting price limits for water and sewerage services.
The independent evaluation will be completed by the end of July and its findings made public.
The members will:- Examine the way in which Ofwat carried out its PR04 review, including the suitability of the process and whether it was properly applied;
- Seek stakeholders' views;
- Examine the cost effectiveness of the review process and whether it can be improved, particularly with regard to the principles of good regulation set down by the Better Regulation Task Force; and
- Make recommendations to Ofwat's Board on what can be learned from the process
Full Terms of Reference are posted today on the Ofwat website, www.ofwat.gov.uk
The review members are:
Chair: John Baker CBE, Non Executive Advisory Director of the Office of Water Services (Ofwat), Chief Executive (1989-95) and Chairman (1995-97) of National Power PLC; Chairman of English National Opera (1995- 2001) and Groundwork Foundation (1996-2000). He is currently Chairman of The Maersk Company and Globeleq.
John Neilson is currently the Managing Director of Corporate Affairs at the Office of Gas and Electricity markets (OFGEM). He has been an executive member of Ofgem's Board since May 2000.
Dr Gill Owen is Chair of the Public Utilities Access Forum, a Senior Research Fellow at the Centre for Management Under Regulation (CMUR) at Warwick University Business School and a member of the Government's Fuel Poverty Advisory Group. She is a former member of the Competition Commission and a former non-executive member of Ofgem's Board. Dr Owen is also the author of the report `Economic regulation and sustainability policy', published by Sustainability First.
John Smith is a regulatory economist and policy adviser who has worked in Government and in the privatised water and rail industries. He is currently working with Indepen Consulting and is advising Scottish Water on their strategic review of charges. Prior to that he undertook a study for Defra and Ofwat on financial structures in the water industry.
Peter Vass MSc (Econ), CPFA, is Director of the Centre for the study of Regulated Industries (CRI) at the University of Bath School of Management, and a senior lecturer in accounting and finance.
Notes:
1. 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.
ENQUIRIES TO OFWAT PRESS OFFICE ON:
0121 625 1442/1416/1496
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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