Ofwat publishes business planning consultation
- Published on Friday, 12 April 2013 10:49
- Posted by Vicki Mitchem
Ofwat has today published proposals which outline how it expects companies to submit customer-focused business plans, which will help determine how much they can charge their customers from 2015 to 2020.
Ofwat's risk-based approach to reviewing companies' plans is new and will strongly encourage companies to focus on their customers rather than the regulator. The consultation emphasises that the best business plans should show how companies have actively engaged with their customers and stakeholders. Their plans should clearly show how they have taken customers' needs and wishes into account.
The regulator's consultation on business planning expectations follows its January consultation on how it will set price limits from 2015 to 2020. This set out how Ofwat is planning to change the way it regulates the water and sewerage sectors to drive more efficient, customer-focused companies, and ensure more sustainable water use.