PN 29/03: Regulators and Government seek views on the price review as it reaches important milestone

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PN 29/03	12 August 2003
REGULATORS AND GOVERNMENT SEEK VIEWS ON THE PRICE REVIEW AS IT REACHES IMPORTANT MILESTONE

In a joint statement published today regulators for the water industry and Government urged interested groups to contribute to the water price review now underway.

The joint statement sets out some key questions for contributors to consider and invites responses by 5 November.

The review will reach an important milestone this month when each water company submits to the Office of Water Services (Ofwat) its draft business plan.

This will present the company's preferred strategy on what it expects to deliver for the next five years from April 2005. It will, importantly, also include the level of bills the company believes it will need to charge its customers to deliver its chosen strategy. Each company will produce and publish a summary of its draft business plan by 2 September 2003.

Ofwat will set new price limits for the water companies in November 2004. In preparation for that, the Secretary of State for Environment, Food and Rural Affairs and the Welsh Assembly Government will be taking key decisions later this year on the drinking water quality and environmental improvements that water companies will be required to deliver. These decisions will be announced in January 2004.

Final business plans taking account of Ministerial decisions will be provided by companies to Ofwat in April 2004. Ofwat will issue draft price determinations in July 2004 for consultation, and final determinations in November 2004.

Notes to Editors

1. For further information on the water price review, and the role of each regulator and the Government in that process, media enquiries should be made to the following:

Department for Environment, Food and Rural Affairs (Defra) - contact press office on 0207 238 5334/6043.

The Welsh Assembly Government (WAG) – contact Rebekah Reid on 029 2082 8490.

Ofwat – contact press office on 0121-625 1442/1416.

The Environment Agency – contact press office on 020 7863 8710.

Drinking Water Inspectorate (DWI) – contact Defra press office on 0207 238 5334/6043.

English Nature - contact James Marsden on 01733 455306 or Alison Giacomelli on 01273 476595 ext 216.

Countryside Council for Wales (CCW)– contact press office on 01248 385566.

2. The joint statement will be available on the following regulators and Government websites:

defra.gov.uk

wales.gov.uk

ofwat.gov.uk

environment-agency.gov.uk

dwi.gov.uk

english-nature.org.uk

ccw.gov.uk

3. Large companies have prepared three draft business plans (and small companies two draft plans) to be sent to Ofwat on 15 August, and published by 2 September. One plan is based on the company's "preferred view", having regard to its legal and service obligations. The other plans have been produced in accordance with assumptions specified by the regulators.

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