Price Review 2024
What is the price review?
Ofwat is the financial regulator of the water industry, and we are the environmental regulator. The price review is a process for regulating water bills, and the next 5 year price review (PR) is PR24, which covers the period 2025 - 2029.
We scrutinise the plans the water companies submit to Ofwat, to ensure they deliver their legal environmental obligations. Companies report each year on how they are delivering that package so that they can be held to account for their performance.
(External link) | WRMP19 Annual ReviewOfwat have published the joint letters(External link) which have been sent to nine water companies and one NAV (New Appointment and Variation) following Ofwat and the Environment Agency’s assessment of their annual reviews. | ||
(External link) | Price review frameworkThe strategic policy statement(External link) sets out the government’s priorities for Ofwat’s regulation of the water sector in England. | ||
(External link) | WISERThe water industry strategic environmental requirements (WISER(External link)) technical document, describes the statutory and non-statutory expectations for PR24, and approaches water companies should follow during PR24 and beyond. | ||
(External link) | Water industry national environment programme (WINEP)We collaborate with other organisations to design, develop, and deliver the WINEP(External link), a programme of actions water companies need to take to meet both statutory environmental obligations and non-statutory environmental requirements. | ||
(External link) | Associated plansThere are a number of plans and strategies that are considered in developing the water company business plans for PR24. We advise and support water companies and Ofwat in developing them. A full list can be found on GOV.UK(External link). | ||
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