“In developing our business plan for the PR19 price review, we extensively consulted with almost half a million of our customers in order to understand their priorities clearly. Our customers’ key priorities were efficient costs and assurance that water and waste water services would be robust, deliverable and resilient for the future.
“Following detailed review of the PR19 Final Determination that Ofwat set for NWL, the company firmly concluded that firstly it fell short of what customers clearly stated were their priorities and secondly it would adversely impact the long term financial resilience of the company. For these reasons the Board of NWL unanimously agreed to seek the only redress it has available in the regulatory process, an independent review by the CMA.
“We will be studying the detail in the CMA’s provisional findings over the coming weeks and will prepare a full response in due course.
“We appreciate the thorough and diligent approach the CMA has taken to make the process to this point fair and comprehensive given the difficult circumstances of Covid-19.”
The full CMA summary document and their press release can be found here: