Ofwat business planning consultation services
The retail residential review revealed that customer service has been too slow to evolve and lagged behind other sectors and residential behind business retail.
Yorkshire water ofwat
Regina Finn said: "Innovation and creativity will be essential if the water sector is to meet the challenges it faces at a price customers regard as fair. Our business plan, published in December describes our strategy for Ofwat have since reviewed the plans and published their initial assessments earlier this week — and here it is: What does this mean? You could also send a letter directly to your water company outlining your concerns. What can you do? The business plans could include, for example, some indicative, non-binding performance commitments years in the future. We acknowledge there is more to do and look forward to continued close collaboration with our customers, regulators and other stakeholders as we continue to build a company which can deliver a resilient water future for our customers in the South East.
It was particularly pleasing to hear that Ofwat liked our customer research and engagement, our approach on affordability and vulnerability and the use of innovation and markets.
If you need a reminder, you can read the first blog here. Many companies have not stretched themselves on issues like reducing leakage and expanding support for customers in financial hardship. Ofwat will be consulting on its detailed PR19 methodology from 11 July Financial resilience: We have a duty to ensure that efficient water companies can finance their functions.
The consultation paper describes the approach that the regulator will take to make sure that the prices companies charge their customers are designed to deliver the best results for those customers.
Have any Question or Comment? We have also been commended on the ambition of our proposals to support those in vulnerable circumstances.
We are pleased that Ofwat has recognised our commitment to ensuring our bills are affordable for all, along with their confidence in our ability to deliver our plan, based on our very successful track record.
Let your water company know the environment is still a priority for you. Water is wonderful. Responses to the consultation paper should be sent by 24 January by email to rhiannon.
The rest of the sector now needs to meet this high standard so that customers across the country get better and more efficient services. We asked them to look well beyond the five-year price review period to meet needs of future customers and protect and improve the natural environment. Water companies have responded positively with an increased focus on customer priorities such as keeping bills affordable, cutting leakage, protecting the environment and helping those most in need. Whilst we think many of the plans could have gone further, being even more stretching and ambitious, this all requires significant capital investment. We are concerned that this will make it harder to meet the needs and expectations of our customers, amid the challenges of population growth and climate change. Our focus is now on reviewing the assessment in more detail, working with Ofwat to ensure we fully understand and address the areas that need further work while ensuring we can still deliver what matters most to our customers. Planning for the future Our Purpose Our vision is to be the national leader in the provision of sustainable water and waste water services and we are constantly looking for more efficient, innovative ways to improve our services to make life even better. Ofwat has also published the results today of its annual company monitoring framework assessment, which measures the quality and transparency of company reporting and the level of trust and confidence that customers and other stakeholders can place in it. Ofwat is expecting companies to include in their business plans outcome performance commitments relating to resilience and asset health. Preparing for the introduction of wholesale markets. We are concerned that if Ofwat is asking companies to cut the cost of their plans, this could lead to reduced investment in measures that enhance the environment. You can do this by keeping an eye out for further consultations on the revised plans — and we will highlight these to you as well. It redefines the relationship between a water company and its customers, and recognises our societal responsibilities. But in the light of the challenges of the future we do propose to make some changes to the way we set price limits.
This will show how each company proposes to tackle long term issues such as climate change, the development of competition and, where relevant, increased housing development.
based on 101 review