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Working with our regulator — consultation responses The Water Services Regulation Authority, also known as Ofwat, is the water industry economic regulator. As part of its role, Ofwat produces process and policy documents which they ask water companies to comment on.
These are usually called consultations.
Ofwat uses the price review to set the price, investment and service package that our customers receive, therefore controlling how much we can charge our customers for the services that we provide them.
As part of the price review process, we must submit a business plan that is assessed by Ofwat. The next price review will be held in PR19 and we have already started planning for it.
PR19 will set our price controls from 1st April to 31st March PR19 will provide a resilient long-term future for water in Yorkshire. It will ensure that we provide more of what matters to our customers, at a price they can afford and are willing to pay for.
The Yorkshire Forum for Water Customers has a key role in helping Ofwat, scrutinise our business plans. At PR14 Ofwat introduced a number of incentive mechanisms that had the potential to reward or penalise companies where they out or under-performed against agreed targets for improving performance for customers, and mechanisms that shared with customers benefits from efficiencies achieved or consequences for legitimate additional costs required in the delivery of services.
The output from the Yorkshire Water PR14 reconciliation will be proposed adjustments to our future revenues and regulatory capital value RCV for performance delivered between and a combination of actual and forecast performance. Ofwat will take account of companies performance over the period in its initial assessments of company business plans at PREverquest Next: Landmark will give players the ability to stake out claims to territory and build their own structures using materials found in the game.
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