Member

In the absence of consumer interest representation on Ofwat’s board, the organisation makes numerous concessions to water companies. Ofwat’s price review—code-named PR24—is based on entirely fictitious data. The formula used has something called regulatory capital value, which contains fictitious levels of investment. All water companies are capitalising parts of interest payments, and parts of repair and maintenance costs, just like Carillion did, and this inflates the value of their investment. Ofwat is accepting this.