Written question asked by Baroness Hayman of Ullock (Labour) on Tuesday, 28 November 2023, in the House of Lords. It was due for an answer on Tuesday, 12 December 2023. It was answered by Lord Benyon (Conservative) on Thursday, 7 December 2023 on behalf of the Department for Environment, Food and Rural Affairs.
Ofwat: Economic Growth
- Question
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To ask His Majesty's Government how they envisage the work of Ofwat will contribute to the revised Growth Duty, which was announced alongside the Autumn Statement.
- Answer
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Ofwat lead the independent price review process to determine investment plans for water companies from 2025 to 2030, with proposed business plans currently containing a planned £96 billion of investment between 2025 and 2030.
Ofwat are now in the process of scrutinising these plans to ensure they meet the targets for environmental improvements and other obligations, without unduly impacting customers’ bills. Once the Growth Duty requirements come into force on 6 April 2024, Ofwat will also need to consider the promotion of economic growth throughout this scrutiny process.
Secondary information
- Type
- Written question
- Reference
- HL657
- Session
- 2023-24
- Subjects
- Economic growth Ofwat
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2023-12-07 13:59:06 +0000
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- http://data.parliament.uk/writtenparliamentaryquestion/lords/2023-24/HL657
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