The Yorkshire Forum for Water Customers has a key role in helping Ofwat, scrutinise our business plans. We submitted our plan to Ofwat on 3 September Our Business Plan to Developing our Business Plan Our full business plan for to and supporting appendices are available in the side panel of this page.
As part of its role, Ofwat produces process and policy documents which they ask water companies to comment on. Public consultation on our draft Water Resources Management Plan —so customers could comment on our plans to secure resilient water supplies. Not Just Water Working with our regulator — consultation responses The Water Services Regulation Authority, also known as Ofwat, is the water industry economic regulator.
The next price review will be held in PR19 and we have already started planning for it. Ofwat will make its final determination on our plan and set the service levels we must deliver and the cost of bills for to This covers three years of known performance and two years of forecast performance.
Our engagement programme, Talk on Water, has involved talking to nearly 3, people about their needs and priorities for their water service. The following timeline sets out how we developed our plan. In preparation for the review of our business plan in September, Ofwat has requested that we provide them with information on our performance over to October to January 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.
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.
We updated and finalised our Business Plan, making some changes because of customer feedback. These are usually called consultations.
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.
As part of the price review process, we must submit a business plan that is assessed by Ofwat. Publication of our Long Term Vision — tell us what matters most to you in the future. We also asked a wider range of customers about their priorities, including those experiencing difficult circumstances.
Ofwat is making changes to the regulatory framework from They do this every five years and must balance the interests of customers with ensuring that companies can pay for and deliver the services they need to. Ofwat will provide us with its initial view of our Business Plan.
To find out more about Ofwat and their role in our business plan visit https: PR19 will set our price controls from 1st April to 31st March May — July 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.
PR19 will provide a resilient long-term future for water in Yorkshire.In July, Ofwat set out how this growing number of price controls would function—i.e.
the ‘form of control’ for household retail, business retail, water network-plus, wastewater network-plus, water resources and bioresources.
January Ofwat will provide us with its initial view of our Business Plan. Spring We expect to publish our final Water Resources Management Plan, once we receive approval from Defra. December Ofwat will make its final determination on our plan and set the service levels we must deliver and the cost of bills for to Publish Ofwat’s five-year business plan, forward programme and annual report and accounts.
Publish decisions on disputes and investigations as appropriate. Publish lessons learned from the price review – and reconciliation rulebook. Ofwat methodology consultation August and how much its business plan reflects this (ie the role described in its ‘Customer The role of CCGs is clearly very important to the PR19 process and there are four things that Ofwat should usefully do to enhance the transparency of the CCG role.
It ensures that public consultation on WRMPs will be completed before business plans are submitted to Ofwat; this is a change to earlier proposals that should help ensure companies have the evidence needed to underpin future water resources investment.
Business planning process, customer consultation and information requirements for the Periodic Review: a consultation paper Full document available from Ofwat .Download