The question was the degree. Ofwat has landed on figures that, for about three-quarters of the companies, represent roughly what they wanted in order to fund regular operations and build new projects.
The response in the share prices of the few firms still on the stock market always offers the best instant guide to these hellishly complicated five-yearly regulatory determinations. On a bad day in the wider market, Severn Trent and United Utilities were two of best performers in the FTSE 100 index; Pennon, the owner of South West Water, was in step in the FTSE 250.
That reaction is understandable when you look at how far the economic regulator has shifted between July's draft version and yesterday's final one. The total expenditure allowances for the sector - to be funded from bills - has climbed from £88bn to £104bn over the next five years.
Denne historien er fra December 20, 2024-utgaven av The Guardian.
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Denne historien er fra December 20, 2024-utgaven av The Guardian.
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Beaumont may step in at RFU if Ilube quits over pay fiasco
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