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How will Ofwat approach the review?
We will reflect the five principles of good regulation in our approach to the review; transparency, accountability, proportionality, consistency and targeting.
We will set price limits that deliver the best value for water consumers and allow efficient water companies to provide a sustainable service into the future.
We will adopt an open, efficient and transparent process in conducting this review.
We will consult on our proposed approach to the periodic review in October 2007 in "Setting out how we intend to approach the price review". We will confirm our approach in March 2008.
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