Price Review 2019
About PR19
The 2019 ‘Price Review’ for water companies in England and Wales is a process led by Ofwat to determine prices for the period 2020-2025. As part of this process all companies were required to work with their customers to produce a business plan for 2020-2025 setting out what they intend to deliver for customers and the environment.
South West Water submitted its five-year business plan to Ofwat in September 2018, following its biggest ever customer consultation, which showed a public approval rating of at least 88% for the plan and received the support of the independent WaterFuture Customer Panel.
To view these documents and for more information click here.
Fast Track status
On 31 January 2019 Ofwat published their initial assessment of each company’s plan, categorised according to the level of quality, ambition and innovation they demonstrated.
Chris Loughlin and Susan Davy hosted a webcast and interactive Q&A on 1 February 2019 providing an overview of what fast-track status means for South West Water which can be accessed here.
Final Determination
Following detailed review and careful consideration, South West Water confirmed its acceptance of the Final Determination which was published by Ofwat on 16 December 2019. Importantly for customers, by 2025 South West Water bills will be lower than they are today, and lower than they were 15 years earlier.
South West Water’s Final Determination also includes;
- a totex allowance of c.£2bn (wholesale and residential retail) - consistent with South West Water's Draft Determination in April 2019
- a suite of outcome delivery incentives reflecting the priorities of our customers
- an innovative customer sharing mechanism - WaterShare+ which offers customers a tangible stake and a greater say in the business.
Investor Summary
An investor document summarising the key metrics from Ofwat’s Final Determination can be accessed here.