Thames Water has said it will accept Ofwat’s Final Determination on its AMP6 Business Plan.
Thames Water was one of three companies where Ofwat called into question in its Draft Determinations in August 2013 cost claims running into hundreds of millions of pounds.submitted by United Utilities, Thames Water and Bristol Water.
The regulator had identified a “gap” of £331million in Thames Water’s Thames Tideway Tunnel costs. The water company had originally sought £655 million in its Business Plan which Ofwat had reduced to £324.3 million. The amount allowed in Ofwat’s Final Determination was £405.2 million.
United Utilities has also accepted the Final Determination. Last week Bristol Water announced that it had rejected Ofwat’s Final Determination and would seek a review by the Competition and Markets Authority – the only water company to date to do so.
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