Yorkshire Water on PR24: regulation needs to get regional

Yorkshire Water has set out a series of ideas that "together would bring a much stronger regional focus to regulation."

In PR24 and beyond – 10 years of investment? a paper published last week to contribute to the discussion about the future of water regulation, Yorkshire Water emphasised the role it plays as an “anchor institution” in its regional economy. It said it shares common challenges with other stakeholders in Yorkshire including local authorities, other infrastructure providers, and health and education providers, and works increasingly closely with them as partners. It put forward the case for regulation to recognise this, including by:

• giving a greater say to devolved administrations/mayors in agreeing investment priorities for water, to increase democratic accountability and bring investment more in line with regional infrastructure strategies.

• providing easier public access to information through simpler regulation and open data.

• giving a stronger voice to local customers and stakeholders.

• regulating for “next stage” partnerships including by allowing for harmonisation of investment cycles in region; and by providing for assets and nature based solutions with shared ownership/accountability, including through innovative funding models and multi-AMP investments.

Elsewhere in the paper, Yorkshire Water argued for wider regulatory reform. It called for: a simpler process to allow investment decisions to be made more quickly and at cheaper costs as a priority; government and regulatory policy to be lined up better and more consistent so that investors can have more confidence in the stability of the regime which they are funding; regulation to be more flexible and outcome-based; and

wider societal benefit and carbon impact to be taken into account in decision making.