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UK water regulator’s final price decision will come on Dec. 19
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LONDON (Reuters) – Britain’s water regulator will publish its final price determination on Dec. 19, senior director Chris Walters confirmed to a parliamentary committee on Tuesday.
LONDON (Reuters) – Britain’s water regulator will publish its final price determination on Dec. 19, senior director Chris Walters confirmed to a parliamentary committee on Tuesday.
The determination sets water prices and investment levels for the next five years, a key measure for the outlook of the country’s utilities, including struggling Thames Water.
Ofwat had previously considered delaying publishing the determination decision until early next year.
(Reporting by Sarah Young, editing by Paul Sandle)
Ofwat is the economic regulator for the water sector in England and Wales, responsible for ensuring that water companies provide a good service to customers and operate efficiently.
A price determination is a decision made by a regulatory body, such as Ofwat, that sets the prices and investment levels for a specific period, influencing the financial stability of utilities.
Thames Water is the largest water and wastewater services company in the UK, serving London and the Thames Valley, and is currently facing financial challenges.
A regulatory framework consists of the rules, guidelines, and laws that govern how industries, such as utilities, operate, ensuring compliance and protecting consumer interests.
Utility investment refers to the allocation of funds into essential services like water, electricity, and gas, aimed at maintaining and improving infrastructure and service delivery.
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