The Monthly: October 2019

02 Oct 2019 / Corporate research

Water – PR19

By Nigel Hawkins, Hardman & Co Analyst

  • Since their privatisation in 1989, the 10 water companies have faced a periodic review every five years; it is undertaken by Ofwat, and prescribes customer prices, along with the investment requirements.
  • As part of the ongoing review, PR19, Ofwat will publish its Final Determination numbers on 11 December 2019; they will apply as from April 2020, although water companies do have the option to seek a reference to the CMA.
  • The three quoted water companies – Severn Trent, South West and United Utilities – have been fast-tracked, so their numbers are broadly known.
  • The other seven are facing tough regulatory scrutiny, with several seriously considering appealing Ofwat’s Final Determination via the CMA – Southern, Thames and Anglian are the most likely to do so.
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