Data Quality in Water Firms Questioned

Ofwat's Concern Over Information Completenessin Water Companies' Business Plans

In the letter, dated July 30, Ofwat chief regulation officer Sonia Brown said: "We think this is of sufficient importance for us to publicly raise concerns in your draft determination to be published on 29 August. I wanted to tell you this now because we consider these to be important issues that you need to address but we recognise the period between draft determinations and the deadline for making representations on these (3 October) is tight."

Brown said there were concerns over the information provided in relation to the financeability of the companies' plans. "Through the query process we have identified substantive issues with the calculations underpinning your assessment of actual and/or notional financeability. These issues have had a significant impact on the calculation of financeability ratios, which raises serious concerns over your board assurance of financeability.

Brown said there were also concerns over the allocation of costs in the revised business plans, saying it "is not evident that your company has undertaken adequate and transparent assurance in line with our revised guidance"

Source: WWTonline

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