Ofwat flags up financeability as the likely focus as it refers five firms to the CMA

Ofwat has formally referred the final determinations of five water companies – Anglian, Northumbrian, South East, Southern and Wessex – to the Competition and Markets Authority (CMA) for redetermination. This follows Ofwat agreeing to a request from the sixth appellant, Thames Water, for a delay of up to 18 weeks for its referral.

The CMA has appointed a five-strong panel to hear the appeals. This is chaired by Kirstin Baker and also comprises Ashleye Gunn, Juliet Lazarus, Paul Muysert and David Thomas. The authority said a timetable would be published as soon as possible; the references from Ofwat specify a six month schedule, but this can be extended by a further six months.

In its introductory submission to the CMA, Ofwat flagged up that companies are most likely to draw attention to financeability challenges when they present their statements of case.