Strategic Review of Charges 21-27
We are coming to the closing stages of SRC21, the process whereby we set limits on charges for water and sewerage services for the period 2021-27.
We have conducted a transparent and collaborative price review, taking account of all the evidence available to us in coming to the views set out in our published Decision Papers and in our draft determination (published on 8 October 2020).
Our approach to economic regulation is firmly rooted in doing what is right for both current and future customers. Our decisions have been taken in the context of the need to transition to a net zero industry by 2040 and to ensure the sustainable long-term future of the water industry in Scotland.
We have now published our draft determination for consultation.
We believe our determination will future-proof our water industry, bringing benefits to current customers whilst protecting the interests of future generations.
To find out more about our approach please watch our short video here
Our consultation closes on 19 November 2020. To make representations please email us at [email protected]
Ethical Business Regulation
As part of the SRC21 process we have worked closely with water industry stakeholders to put in place the key elements of a new regulatory approach, which focuses on establishing the best outcomes for customers, communities and the environment.
In particular, stakeholders are committed to adopting the principles of Ethical Based Regulation (EBR)
. EBR requires open and honest conversations about the future challenges for the Scottish water industry, and how best to tackle them. This will require candour and transparency in all interactions between us as regulator, Scottish Water and other stakeholders. This is the essence of Ethical Business Regulation.
EBR will be supported by the adoption and implementation by Scottish Water and other market participants of Ethical Business Practice (EBP). We believe that the combination of EBP and EBR will enable the water industry to meet the challenges that lie ahead as effectively as possible and to do so long into the future.