This site uses the UK Government AccessKeys system
|
|
What's new | Publications | Media centre | Price review | FAQs Update alerts | Consumer issues | Site map | Competition | Contact us |
| |||||||||||||||||||||||||||||||||||||||||||||||||||||
Media centre
Bristol Water and Dee Valley Water say they have experienced significant changes to certain specific costs and revenues that were excluded by Ofwat because they were too uncertain when it set price limits for 2005-10. Regina Finn, Ofwat's Chief Executive, said: "We set price limits at a level that is designed to protect customers and allow efficient companies to finance their functions so that they can continue to deliver high quality services to customers at a fair price. "Both companies have come forward with proposals that would lead to increased prices to customers. We will challenge these proposals and question the companies strongly on their reasons. Proposed increases will only be allowed if they are fully justified." Both Bristol Water and Dee Valley Water say they are facing significant changes in their costs and revenues because of:
Ofwat will publish its draft decisions for consultation at the beginning of November 2007, and final decisions in mid-December 2007. Any revisions to price limits will apply to customers' bills from April 2008. Notes to Editors: 1. The Water Services Regulation Authority (Ofwat) is the economic regulator of water and sewerage companies in England and Wales. It exercises its powers in a way that it judges will protect the interests of consumers, promote value and safeguard future water and sewerage services by allowing efficient companies to carry out their functions properly, and to finance them. 2. Condition B of a water company's licence allows it to apply for an adjustment to its price limit for material changes to specific items that have a total impact on the company amounting to at least 10% of the company's turnover. These are: 3. Ofwat can also serve a Counter Notice if it feels that companies have been allowed to raise money for work that may no longer be needed, or they have made specific relevant gains or savings. 4. Bristol Water and Dee Valley Water provide water-only services to customers, and do not deal with the removal of sewerage. The average water bill for the two water companies in 2007-08 was: Bristol Water - £141; Dee Valley Water - £118. 5. Price limits were set by Ofwat in 2004 for the period 2005-10. Copies of 'Final determinations: Future water and sewerage charges 2005-10' are available on the Ofwat website, www.ofwat.gov.uk or from the Ofwat Library on 0121 625 1373. 6. The remaining price limits for Bristol Water and Dee Valley Water are as follows: 7. Bristol Water supplies water to more than one million people, covering an area of 2,400 square kilometres. Dee Valley Water supplies water to more than 250,000 people, covering an area of nearly 850 square kilometres in North East Wales and North West England. 8. Media enquiries to Ofwat Press Office on: 0121 625 1442/1416/ 1496.  | ||||||
© Crown copyright |
Disclaimer & Privacy Statement |