MENUMENU
  • Home
  • Free Subscription
  • Latest digital editions
  • Market reports
  • Events
        • The EV Event
          • Photos
          • 2019 presentations
          • Register
        • The Energyst Event
          • 2019 Videos
          • 2019 presenations
          • 2019 Agenda
          • 2019 Photos
          • Exhibitors
        • Battery storage event
          • 2018 Photos
          • 2018 presentations
          • Photos
        • DSR Event
          • Register
          • Photos
          • 2019 presentations
          • 2018 presentations
          • 2017 presentations
  • Advertise
    • Our Publications
  • About Energyst Media
    • Contact Us

theenergyst.com

  • Policy & Legislation
  • Procurement
  • DSR, storage, flex
  • Energy Management
  • Electric Vehicles
  • Renewables
  • December 9, 2019
You are here: Home / Water Efficiency / Regulator’s wrong sums leading to higher water bills says government watchdog

Regulator’s wrong sums leading to higher water bills says government watchdog

January 13, 2016 By Brendan Coyne Leave a Comment

water bubbleMiscalculations by regulator Ofwat have led to windfall gains for water companies and customers paying over the odds on water bills, the Public Accounts Committee has found.

That is because Ofwat has consistently over-estimated water companies’ financing and tax costs when setting price limits, according to the Committee. It estimates those errors have handed water companies some £1.2bn over the last five years.

While Ofwat has attempted to ensure those gains were shared with customers, the Committee said results were mixed at best.

The watchdog urged Ofwat to review its approach to setting allowances for the cost of debt and corporation tax, and report publicly on what actions it intends to take to improve its performance.

It also calls on the regulator to use comparisons with other sectors and international suppliers to develop a clearer picture of what services should cost if provided efficiently.

Read the full report here.

Click here to see if you qualify for a free subscription to the print edition of The Energyst, or to renew.

Follow us at @EnergystMedia. For regular bulletins, sign up for the free newsletter.

Share this article:

  • Tweet
  • Email
  • Print
  • WhatsApp

Filed Under: Water Efficiency

About The Author

Contributing editor at Energyst Media

Leave a Reply Cancel reply

Your e-mail address will not be published. Required fields are marked *

2019 Energy outlook podcast

Top Posts & Pages

  • After Npower, where next for UK energy retail market?
  • BMW eyes vehicle-to-grid
  • Hydrogen fuel cell electric vehicle charger aims to solve capacity crunch
  • National Grid outlines future of frequency response
  • Ofgem confirms £97.5m renewables obligation shortfall
  • Capacity Market: 33 suppliers owe £38m in payments
  • Eon wields the knife at Npower, big cuts ahead
  • SEEIT: 2020 will be a big year for renewable energy PPAs
  • Flow storage firm Red T plans merger with Avalon Battery Corporation
  • WPD and ENW plan substation arrays to power electric vehicles

RECENT COMMENTS

  • Kayla Ente on After Npower, where next for UK energy retail market?
  • Steve Broderick on Study: smart charging trumps V2G value – for now
  • Oliver on The promise and pitfalls of private wire electricity supply
  • Andrew Warren on Utilities take evasive action against nationalisation
  • David Howard on Net zero: We’ll need 10 times as much hydrogen
  • Bill Parker on SSE: 40GW of offshore wind ‘will not be a walk in the park’
  • Louis Fairfax on Ofgem confirms plans for new network charges
Tweets by @EnergystMedia

Subscribe to The Energyst e:news

We will never share your email address and you can easily unsubscribe from every email we send you.

theenergyst® | Copyright © 2019 Energyst Media Ltd

Website users agree to abide by our Terms & Conditions and Cookie Policy

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.