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Pennon's South West Water receives draft determination for next regulatory period

By Josh White

Date: Thursday 11 Apr 2019

Pennon's South West Water receives draft determination for next regulatory period

(Sharecast News) - Pennon Group confirmed on Thursday that the water industry regulator Ofwat has published a draft determination for its South West Water operation, following its announcement on 31 January that its 2020-2025 business plan had been assessed as 'fast tracked.
The FTSE 250 company said the draft determination was "largely based" on South West Water's own business plan and forecasts.

It claimed it was the only water and sewerage company to have achieved fast track status for two consecutive price reviews.

"South West Water is now reviewing the draft determination proposed by Ofwat, and will respond to the regulator by the due date of 24 May," the Pennon board said in its statement.

"Ofwat will announce its final determination for the company on 11 December."

South West Water's five-year business plan was submitted to Ofwat in September last year following its "biggest ever" consultation, which showed a customer approval rating of 88% and received the support of the independent WaterFuture Customer Panel, Pennon added.

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