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| Ofwat chief quits for private sector job | Ofwat chief quits for private sector job |
| (35 minutes later) | |
| The chief executive of Britain’s water regulator, Ofwat, is leaving at the end of the year to take up a senior job in the private sector unconnected with the industry. | The chief executive of Britain’s water regulator, Ofwat, is leaving at the end of the year to take up a senior job in the private sector unconnected with the industry. |
| Ofwat has started looking for a replacement for Cathryn Ross, who took the helm in October 2013 and led the regulator through a review of sector prices in 2014 and the opening of a new business retail market in England. | Ofwat has started looking for a replacement for Cathryn Ross, who took the helm in October 2013 and led the regulator through a review of sector prices in 2014 and the opening of a new business retail market in England. |
| Jonson Cox, Ofwat’s chairman, paid tribute to Ross, describing her as a “transformational leader for Ofwat and the sector”. | Jonson Cox, Ofwat’s chairman, paid tribute to Ross, describing her as a “transformational leader for Ofwat and the sector”. |
| He added: “As chief executive she has created a dynamic and leading-edge regulator, effective in driving change across the water sector and putting customers first. We are sorry to see her go and wish her every success in her new role.” | He added: “As chief executive she has created a dynamic and leading-edge regulator, effective in driving change across the water sector and putting customers first. We are sorry to see her go and wish her every success in her new role.” |
| Ross said: “After four fantastic years, I know I will be leaving Ofwat in good shape. Our regulatory approach is now well established and we have a strong team in place. We are set up to regulate the world’s largest competitive water retail market, and we are ready for a demanding price review, which will deliver more of what matters for customers.” | Ross said: “After four fantastic years, I know I will be leaving Ofwat in good shape. Our regulatory approach is now well established and we have a strong team in place. We are set up to regulate the world’s largest competitive water retail market, and we are ready for a demanding price review, which will deliver more of what matters for customers.” |
| Before she leaves, she will finalise the methodology for the 2019 price review, the framework for the price and service packages water companies must deliver for their customers for the 2020-25 period. | Before she leaves, she will finalise the methodology for the 2019 price review, the framework for the price and service packages water companies must deliver for their customers for the 2020-25 period. |
| Ofwat said it was her decision to leave so she would not be getting a payoff. | |
| Under Ofwat proposals published last September, households would be able to choose their water supplier for the first time. Extending competition, it said, would cut household bills by about £8 a year and improve services. The government has yet to decide whether to adopt the proposals. | Under Ofwat proposals published last September, households would be able to choose their water supplier for the first time. Extending competition, it said, would cut household bills by about £8 a year and improve services. The government has yet to decide whether to adopt the proposals. |
| At the moment, homeowners can only buy water from a handful of regional suppliers such as Yorkshire Water, Severn Trent or Thames Water. But the report by Ofwat recommended an overhaul of the industry to encourage new entrants to the market. | At the moment, homeowners can only buy water from a handful of regional suppliers such as Yorkshire Water, Severn Trent or Thames Water. But the report by Ofwat recommended an overhaul of the industry to encourage new entrants to the market. |