Cambridge Water accepts Ofwat recommendations


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View recent newsCambridge Water accepts Ofwat recommendations

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Cambridge Water customers will continue to benefit from some of the lowest prices in the country after the company announced it would accept Ofwat’s proposed price limits for the next five years.

In its final determination announced in November, Ofwat stated the average household bills should remain broadly constant before inflation for the period 2010-2015.

The regulator has imposed significant efficiency targets on Cambridge Water’s base operating costs which must reduce by nearly 12% by 2015. In addition the amount allowed for returns to investors has also reduced by nearly 20%. These reductions have been balanced by Ofwat allowing the company to recover the costs of providing and operating new equipment to ensure rising nitrates in its water sources do not exceed safe levels. The overall result enables prices to customers to remain stable for the next five years.

Stephen Kay, Cambridge Water’s Managing Director said “In arriving at our decision the company has listened to what our customers have told us they want – stable prices and investment in a safe and reliable water supply.

He added: “Throughout our 157-year history, our aim has always been to operate in the best interest of our customers.

“Given the current economic climate and the desire to ensure bills remain affordable, we have significantly reduced the amount we had planned to spend on infrastructure over the next five years from £57.3 million to £36.6 million, and deferred many projects to 2015 and beyond. 

“However, Ofwat has agreed with our view that we need to invest £8 million in maintaining our water quality.

“This proposal provides a significant challenge for us to ensure we can continue to provide our customers with the highest levels of service while balancing the needs of our investors and the environment and we aim to continue to exceed these expectations.”

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