Ofwat scrapped in huge shake up of 'broken' water regulation system

Evening Standard

Ofwat is to be scrapped as part of a radical overhaul of a “broken” water regulatory system, Environment Secretary Steve Reed confirmed today.He said the regulator established at privatisation to set limits on household bill rises will be abolished as part of the “biggest overhaul of water regulation in a generation”.

Transcript

00:00I agree with Sir John that water regulation has been too weak and too ineffective.

00:08Having four separate regulators with overlapping and conflicting remits

00:13has created a merry-go-round that has failed customers and the environment.

00:21Ofwat has failed to protect customers from water companies' mismanagement of their hard-earned money.

00:28So today I can announce that the Labour government will abolish Ofwat.

00:37In the biggest overhaul of water regulation in a generation

00:41we will bring water functions from four different regulators into one.

00:48A single powerful regulator responsible for the entire water sector.

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Transcript

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