Ofwat consults on 19% hike in its work programme cost

The cost of Ofwat per household will rise 19% from £1.22 in 2022-23 to £1.45 in 2023-24, according to the regulator’s draft forward work programme for 2023-4.

The total licence fee for the year will be £40.2m, comprising £0.5m from Thames Tideway, £1.1m from retail market licences, and the remainder from the core budget.

The programme explained how Ofwat will work throughout next year to further its three core strategic objectives of transforming water company performance, meeting long term challenges, and delivering greater social and environmental value. It is open to consultation until 17 February.