Question
To ask His Majesty's Government what data they used to estimate the potential commercial benefits of implementing the Genetic Technology (Precision Breeding) Act 2023.
Answered on
13 May 2025
Ofwat independently scrutinises water company plans as part of the price review process to ensure companies meet their statutory obligations and ensure value for money for consumers.
Ofwat published its final determinations for Price Review 2024 (PR24) on 19 December, which sets company expenditure and customer bills for 2025-2030. This will deliver substantial and enduring improvements for customers and the environment through a £104 billion upgrade for the water sector. This investment will contribute to delivery of key elements of the Government’s Plan for Change and Mission Objectives for this Parliament.
We have also overseen the launch of an Independent Commission into the water sector and its regulation, in what is expected to form the largest review of the industry since privatisation. The Independent Commission will review infrastructure resilience including enforcement of existing infrastructure requirements, infrastructure resilience standards and the setting of base expenditure allowances within the price review process.