Acceptance of Ofwat's final determination

13/02/20

On Thursday 13 February we accepted Ofwat's final determination on our Business Plan for 2020 to 2025.

Commenting on the decision, SES Water CEO Ian Cain said: "Following a detailed review of whether we can meet the stretching performance commitments with the funding we have been given, as well as ensuring we can remain profitable over the five-year period, we have today accepted Ofwat’s final determination on our Business Plan for 2020 to 2025. 

“Delivering our revised plan – the most ambitious in our history - will not be without its challenges, largely due to the remaining cost gap and the reduction in allowed revenue from customer bills. We have highlighted this concern to Ofwat, as well as the need to look at the alternative solutions available to ensure we are able to adequately deliver our customer service activities going forwards. We have also emphasised the view, shared by our Customer Scrutiny Panel, that our customers want us to invest to ensure we can continue to supply a resilient supply of high-quality water for the long-term, rather than further reduce the bill for what they already consider a good value, essential service.

“As the incoming CEO it is a privilege to be leading SES Water at what is a crucial time for water companies across the country and we are committed to continuing to build on our strong performance and set new standards in the areas that matter most to our customers.”