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29/09/2004
Water companies have improved efficiency, says Ofwat
Water companies in England and Wales have "invested substantially" in infrastructure and quality improvements over the past four years while "continuing to improve their efficiency", according to the latest report by the water watchdog Ofwat.
The report, 'Financial performance and expenditure of the water companies in England and Wales 2003-04', found that cumulative capital investment from 2000 to 2004 was £13.4 billion compared to the £15.1 billion assumed when price limits were set in 1999.
Part of the reason for the difference is increased efficiency, meaning the companies have been able to carry out some of the work they needed to do more cheaply than Ofwat assumed.
But some of the environmental improvement work scheduled for this period has not yet been carried out. This leaves a considerable part of the improvement work to be completed by December next year, the watchdog said.
Keith Mason, director of regulatory finance at Ofwat, said: "We are pleased the companies are continuing to make efficiency savings and that investment in their infrastructure is paying off in the form of improved service to customers.
"But we and the Environment Agency are concerned about the amount of work still needed on the National Environment Programme. We have discussed this with each company and they are confident that the programme will be delivered."
The performance of the companies' assets overall, such as water mains, sewers and treatment works, was broadly the same as in previous years – but the performance of sewage treatment works was slightly worse, Ofwat said.
(gmcg)
The report, 'Financial performance and expenditure of the water companies in England and Wales 2003-04', found that cumulative capital investment from 2000 to 2004 was £13.4 billion compared to the £15.1 billion assumed when price limits were set in 1999.
Part of the reason for the difference is increased efficiency, meaning the companies have been able to carry out some of the work they needed to do more cheaply than Ofwat assumed.
But some of the environmental improvement work scheduled for this period has not yet been carried out. This leaves a considerable part of the improvement work to be completed by December next year, the watchdog said.
Keith Mason, director of regulatory finance at Ofwat, said: "We are pleased the companies are continuing to make efficiency savings and that investment in their infrastructure is paying off in the form of improved service to customers.
"But we and the Environment Agency are concerned about the amount of work still needed on the National Environment Programme. We have discussed this with each company and they are confident that the programme will be delivered."
The performance of the companies' assets overall, such as water mains, sewers and treatment works, was broadly the same as in previous years – but the performance of sewage treatment works was slightly worse, Ofwat said.
(gmcg)
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