Ofwat ‘to be abolished and replaced with new water regulator’
The water regulator is expected to be scrapped next week because a government investigation is not suitable for the purpose.
Ofwat’s deputy governor of the UK Bank Sir Jon Cunliffe on Monday will be removed under the suggestions of the investigation.
More than one report shows that the investigation is over and the ministers should be removed as the abolition of ofwat as they try to replace them with a new regulator for the sieged industry. The regulator employs approximately 300 people.
Sir Jon’s independent examination has focused on the water sector and regulation without any limits within the scope of its potential proposals.
The Environmental Secretary Steve Reed, who started the review in October, was completely escaped from Ofwat on the table.
“I don’t ignore this. I want Sir Jon to do this, including the whole sector’s root and branch examination-reinforcing and looking at the organizer, Sky said.
Increased population and excessive weather conditions caused by climate change led to intensive pressure on the British’s aging water system, followed the investments that caused widespread floods, supply problems, sewage pollution and leakage.
Public anger was swollen on the deteriorated state of the country’s rivers, lakes and coastal waters, lack of investment in water infrastructure, increasing invoices in special water companies, high dividends, debt, manager wages and bonuses.
The Environmental Agency (EA) said that serious water pollution incidents increased by 60 percent last year and responsible for the majority of three companies.
The latest data of the UK showed that Thames Water, Southern Water and Yorkshire water were behind 81 percent of cases, but he added that “continuous weak performance ında in all nine water companies.
Meanwhile, only the two companies – Northumbrian Water and Wessex Water – last year, there was no serious incident and EA’s expectations to see a tendency to see zero pollution until 2025.
Thames Water, 33 of the 75 serious events recorded by EA, 44 percent of the total.
In general, the guard said that all pollution incidents increased by 29 percent and water companies recorded 2,801 from 2,174 in 2023.
EA is responsible for continuous inadequate investment against reduced flexibility due to the effects of new infrastructure, weak asset care and climate change.
Clive Lewis from Labour said that the removal of Ofat will not “clean rivers or lower bills.”
Nor Walking of Ofwat alone is like blaming Satnav because the road was built when the road was built in this way, ”Norwich South said.
Mr. Lewis added to the public property of water and added: “The real problem is a privatized, remarkable model that gives priority to the payments given to the shareholder payments for the benefit of the public.”
When asked if Wat is planned to be scrapped as a regulator, Downing Street said the government would expect a final report about the water industry next week.
No 10 spokesman said: “We are waiting for the final report of Sir Jon Cunliffe next week – after that, you can expect us to determine what we will do to reverse the sector.”
Sir Jon’s temporary report warned the “rooted, systemic” failures in the water sector and said that ofwat has largely lost the trust of the people.
After the Private Capital Company’s withdrawal of KKR’s planned £ 3 billion rescue, Thames Water, the largest water company in the UK, faces the probability of nationalization.
Thames Water was warned that there was only weeks of cash for the debtor, deputies trying to avoid being bust.
