Ofwat consults on new reporting requirements

Ofwat is consulting until 19 July on proposed changes to regulatory reporting for the 2017/18 year.

It has proposed alterations to Annual Performance Reports – which set out its minimum expectations of company reporting – dealing with the following areas:

  • new information requirements for cost assessment purposes

  • new information requirements for the cost of new connections

  • updates to Regulatory Accounting Guideline 5 and some specific changes which will only apply to

  • bioresources

  • limited new disclosure requirements for non-appointed transactions

  • changes to outcomes reporting

  • changes recognising the new eligibility criteria for participants in new retail market

  • a proposal to raise the small company threshold.

Ofwat plans to finalise its regulatory accounting guidelines in October 2017.