Water UK, the body which represents all the UK water and wastewater companies at both national and EU level, has expressed concerns about Ofwat’s current regulatory approach.

Neil Woodford, Head of Investment and water stocks investor at Invesco Perpetual, has reduced his exposure to the water industry, making approximately £400m worth of recent disposals in the industry’s FTSE 100 companies.

Water UK ,the industry association that represents UK statutory water supply and wastewater companies at national and European level, has published its responses to two separate consultations by Defra and the Treasury, and by the regulator Ofwat, on extending competition in the water industry.

Water UK, the body that represents all UK water and wastewater service suppliers,has responded to Ofwat's consultation 'Setting water price limits for 2010-2015 - framework and approach' on the 2009 water price review (PR09) by questioning whether it is enough to meet the challenges now facing the industry.

Water companies in England and Wales still have much work ahead of them – despite improving performance and pumping over £4.3 billion into maintaining existing assets and investing in new facilities in 2006-2007, according to Ofwat.

Water Services Regulation Authority Ofwat for water and sewerage companies in England and Wales has said that latest results show the companies have delivered improvements to customer services and the environment.

Ofwat yesterday published its proposals to fine Tendring Hundred 0.3% of its turnover – a total of £42,000 – for failing to provide the regulator with reliable, accurate and complete information.

Following the publication of a report on the role of Ofwat in the water industry, Edward Leigh MP, Chairman of the Committee of Public Accounts, today said:

What's the appeal of a price review? Competition Commission issues final findings in Bristol Water Price review

The Government has announced that water industry regulator Ofwat will be reviewed to ensure it is fit for future challenges.