The Water Industry Commission for Scotland (WICS) has published the final methodology for its next price review, the Strategic Review of Charges for Scottish Water (SRC27). This will run from 2027-2033.
The regulator is sticking with an approach underpinned by ethical business practice and regulation, and a long term view. SRC27 will also prioritise high-quality evidence and analysis, and holding Scottish Water accountable for its performance – while providing flexibility for the company to respond effectively to the challenges it faces, particularly where changes in risk or additional evidence impact investment priorities.
Customer engagement has also been elevated, with WICS, Scottish Water and Consumer Scotland already having signed a Memorandum of Understanding on this.
• WICS also published its Annual Report and Accounts for 2023-24 last week. Chair Ronnie Hinds noted that it had been a “particularly challenging period” since governance and financial management challenges were brought to light this time last year. He said “decisive action” had been taken to address the issues and that WICS continues to engage with all involved parties to make improvements.
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