London, Yiannis Haniotakis

Radical changes in the way of operating and supervising the water sector in England and Wales proposes a report by the Independent Water Committee, under the chairmanship of Sir John Canlifformer Deputy Commander of the Bank of England.

The report, which includes 88 recommendations, It proposes the abolition of the ofWat regulatory authority and the creation of two new, strongest supervisory organizations – one for England and one for Wales.

This could “significantly enhance” the supervision of water companies, according to the Commission. “A single regulatory authority could oversee all the functions of a water supply company from all angles and end up in a” holistic picture “on performance issues and compliance failures,” he said.

“Restoration of confidence was central to our work,” Kanlif said, adding: “Confidence that the accounts are fair, that the arrangement is effective, that water companies will act in the public interest and that investors can receive fair performance. Our recommendations to achieve this goal are important. They include the management of the entire water supply system, the regulation of the water supply industry, the governance and the financial durability of the water companies and a stronger voice for local communities. “

Ofwat is accused of leading a culture of subcutaneous infrastructure and economic mismanagement by water companies since its founding in 1989, when the industry was privatized.

There is also an increased accountability for the provision of services, as well as a reduced regulatory burden by simplifying the interactions of water supplies and interested parties with regulators.

The Commission also calls on a universal compulsory installation of water meters, the creation of a specialist for better consumer protection and better complaint management but also in enhancing environmental protection, with the aim of reducing pollution and sustainable use of resources.

Asked by the BBC about whether ofwat failed in its role, Sir John Cunlif responded unilaterally: “Yes.” As he underlined, water accounts have been launched in recent years, and warned that a new rise of 30% is expected to rise in the next five years.

The report also stated that the country is not protected from water pollution and constitutes legislative changes to address the problem and remove chemicals and microplastics from water supply. However, the possibility of the re -domicitation of the sector has not been considered – an issue that remains at the heart of public debate.