About our Ofwat news
Latest news on Ofwat, providing comprehensive coverage of water regulation, price reviews, consumer protection, and industry developments in England and Wales' water and sewerage sector.
Ofwat, officially known as the Water Services Regulation Authority, plays a crucial role in overseeing the privatised water and sewerage industry in England and Wales. Established in 1989 following the privatisation of 10 water authorities, Ofwat is responsible for protecting consumer interests, ensuring the long-term resilience of water supply and wastewater systems, and regulating the economic aspects of the water sector.
As of August 2024, Ofwat is preparing for its next price review, scheduled for December 2024. This quinquennial process, known as PR24, will set water prices for 2025-2030, balancing the need for investment in infrastructure with affordability for consumers. The regulator is also actively monitoring the industry's progress on reducing water leakage, improving river water quality, and enhancing overall service performance.
Recent initiatives by Ofwat have focused on promoting innovation within the water sector. The regulator has been encouraging water companies to adopt new technologies and sustainable practices to address challenges such as climate change impacts and population growth. Additionally, Ofwat has been working to improve transparency and accountability in the industry, regularly publishing performance reports and enforcing penalties on underperforming companies.
The history of water regulation in England and Wales has seen significant changes since Ofwat's inception. The introduction of retail competition for non-household customers in 2017 marked a major shift in the market structure. Ofwat's role has evolved to include fostering this competition while maintaining a focus on consumer protection and environmental sustainability.
Staying informed about Ofwat's activities is crucial for understanding the future of water services in England and Wales. Our NewsNow feed provides up-to-date coverage of Ofwat's decisions, industry responses, and the broader implications for consumers and the environment. From price cap announcements to enforcement actions against water companies, our comprehensive reporting ensures you're always in the know about this vital regulator and the water sector it oversees.