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Ofwat chief quits for private sector job Ofwat chief quits for private sector job
(about 5 hours 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 join BT and lead its battle with Ofcom, the telecommunications regulator.
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. Cathryn Ross, who has run Oftwat for nearly four years, is understood to have been appointed by BT to head its regulatory affairs operation.
Jonson Cox, Ofwat’s chairman, paid tribute to Ross, describing her as a “transformational leader for Ofwat and the sector”. She is joining BT at a critical time. The telecoms firm has had a bad year, marked by an accounting scandal in Italy and a record £42m fine from Ofcom for overcharging for broadband access in the UK. The company is in the process of legally separating its network arm, Openreach, which will be closely scrutinised by Ofcom.
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.” BT is the middle of a shake-up at the top and Ross is expected to take on regulatory responsibilities that have until now been held by Sean Williams, the chief strategy officer, who is leaving. A new chairman, City grandee Jan du Plessis, starts in November. BT declined to comment.
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.” Ofwat said it had started looking for a replacement for Ross, who has tried to get better value for customers from water companies. She led the water watchdog through a review of sector prices in 2014 and the opening of a new business retail market in England.
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. Under Ross, Ofwat, which sets limits on water charges every five years, cut bills by an average of 5% before inflation in December 2014. However, bills still rose as water companies were allowed to add inflation.
Ofwat said it was her decision to leave so she would not be getting a payoff. Before she leaves, Ross will finalise the methodology for the 2019 price review, which will set limits on water charges for the 2020-25 period.
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.
Jonson Cox, chairman of Ofwat, 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.”
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.”
Ofwat said it was her decision to leave so she would not be getting a payoff.