BusinessCompany NewsWater companies face OFR burden

Water companies face OFR burden

The UK's water regulator Ofwat has directed that all water companies implement an Operating and Financial Review

The move comes a year after chancellor Gordon Brown controversially dropped
the reviews, which present fuller descriptions of companies’ environmental and
social responsibilities and key performance indicators.

The organisation’s decision to obligate companies to implement an OFR is in
line with best practice, advisers said.

Ernst & Young’s head of water, Liz Barber, said OFRs were still
considered best practice in terms of companies reporting performance to
shareholders.

‘This is a drive towards talking more about the business to shareholders in
regulated accounts,’ she said.

For more go to www.ofwat.gov.uk

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