SOUTH STAFFORDSHIRE PLC NEWS ARTICLE
01/07/14 - South Staffs Water submits updated Business Plan to Ofwat
On Friday, 27 June 2014, we (South Staffs Water) submitted an update to our 2015-2020 Business Plan and further supporting evidence to our regulator, Ofwat.
Our Business Plan, which covers the South Staffs and Cambridge regions, was submitted on 2 December 2013. After receiving guidance and feedback from Ofwat, stakeholders and customers, we’ve introduced further challenge and provided greater clarity and evidence on our performance commitments to our customers.
Our plans recommend that bills, which are currently the second lowest in England and Wales, will increase by less than the rate of inflation over the five years from 2015 to 2020. The latest piece of research, carried out among 1,000 household and business customers across both the South Staffs and Cambridge regions, showed that 87 per cent of respondents were happy with the proposed plan.
Phil Newland, Managing Director, said: “In producing this updated plan we have worked hard to get the balance right between delivering the service our customers want while maintaining bills at an affordable level. We believe that our proposals represent good value for our customers reflecting their views on service and affordability, while delivering investment which safeguards the resilience and quality of our water supply.”
Ofwat is expected to report back on the Business Plan at the end of August and will then set a final determination by the end of 2014.