How has Ofwat approached the review?
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Ofwat home > FAQs > Periodic review 2004

How has Ofwat approached the review?


We have reflected the Better Regulation Taskforce five principles of good regulation in our approach to the review; transparency, accountability, proportionality, consistency and targeting.

We aim to set price limits that provide best value to customers now and in the future. We intend to:
  • enable well managed companies to finance the delivery of services in line with relevant standards and requirements; and
  • provide incentives for companies to improve efficiency and service delivery.

We have adopted an open, efficient and transparent process in conducting this review.

We consulted on our proposed approach to the periodic review in October 2002 in "Setting price limits for 2005-10: Framework and approach" and confirmed our approach in March 2003.

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