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Ofwat has confirmed that water and sewerage companies can start to plan work on over 1000 capital projects totalling over £1 billion ahead of schedule. Under Ofwat's Early Start Initiative companies will be able to plan and start schemes now, rather than waiting for confirmation when price limits are set in November 2004. The regulator has told companies the projects they are expected to begin work on, completion dates and the expenditure that will be incorporated into price limits for 2005-10. The programme will require companies to complete all these projects before March 2007. This will help to reduce the 'roller coaster' effect of steep rises in capital work towards the end of one review period followed by a dip while companies review their plans in the light of the price limit decisions. Companies will now be able to bring forward over £1 billion of capital investment. Many of the schemes – to tackle problems such as sewer flooding – are small-scale with a value of less than £80,000. Others are more substantial, such as renovating water mains or improving storm overflows from the sewerage system. Companies were asked to identify suitable schemes in the draft business plans they submitted to Ofwat in August this year. Philip Fletcher, Director General of Water Services, said: "The Early Start Programme will benefit customers, the companies and contractors who carry out work for them by reducing the delay which traditionally takes place at the start of each five year period. "By confirming some projects now, rather than waiting until November 2004, companies should be able to plan for and start construction promptly, leading to more efficient progress and enabling customers to receive the benefits earlier." Note to Editors: 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. Customers' interests are represented by WaterVoice. 2. The letter to Regulatory Directors, RD42/03 'PR04 – Early Start Initiative, Capital Works to be completed by March 2007' will be available on the Ofwat website www.ofwat.gov.uk or from the Ofwat library on 0121 625 1373. MEDIA ENQUIRIES TO OFWAT PRESS OFFICE ON: 0121 625 1416/1496/1442 Out of hours enquiries to pager: 08700 555 500 water 503/509. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk  | ||||||
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