Ofwat, the economic regulator of the water and sewerage sectors in England and Wales, has published a new Policy paper setting out its approach to impact assessments.
The regulator said it has revised its approach to using impact assessments in decision-making following changes to its statutory duties under legislation such as the Water Act 2003 and Regulatory Enforcement and Sanctions Act 2008.
The new policy also takes account of revised guidance and a toolkit on impact assessments from the Department for Business, Innovation and Skills (BIS), and reports from the National Audit Office and the House of Commons Environmental Audit Committee on impact assessments.
The document sets out in detail Ofwat’s approach, including:
- what an impact assessment is;
- what information they will contain;
- when it will produce impact assessments – and when it won’t;
- what the process is for developing and publishing them; and
- when Ofwat will review the actual impact of its decisions.
Ofwat said that impact assessments would allow anyone with an interest in its decisions to view, check and challenge any action it proposes.
Further information is available from Isabel Merrifield, Ofwat’s Head of Knowledge Management.
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