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The name Ofwat refers to the office supporting the Director General of Water Services, an individual in whom regulatory powers are vested. From 1st April 2006 , the Director General of Water Services will be replaced by the Water Services Regulation Authority, with a board replacing the individual Director General (currently Philip Fletcher), thus mirroring the structure of most other UK economic regulators. Ofwat is primarily responsible for setting limits on the prices charged for water and sewerage services, taking into account proposed capital investment schemes (such as building new wastewater treatment works) and expected operational efficiency gains. The most recent review was carried out in 2004 , and the next will take place in 2009 . The Environment Agency is responsible for environmental regulation, and the Drinking Water Inspectorate for regulating drinking water quality. Ofwat was set up in 1989 at the time when the 10 Water Authorities in England and Wales were privatised by flotation on the stock market. The resulting companies are known as the water and sewerage companies, to distinguish them from around a dozen smaller companies which only provide water services, which were already in private hands in 1989 (having remained in private ownership since their creation in the nineteenth century). The water only companies provide water to around 25% of the population in England and Wales. EXTERNAL LINKS SEE ALSO |
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