About This Trend
Ofwat is the economic regulator of the water sector in England and Wales.
According to The Guardian, Ofwat is expected to be abolished as soon as next week due to a government review concluding it is not fit for purpose. The decision comes after widespread criticism over failure to prevent sewage spills, hefty dividend payments, and ballooning debts. A new water regulator is reportedly being considered by ministers. The Guardian article provides further details on the impending abolition. The UK's water regulator has been under scrutiny following the Thames Water scandal. According to various sources, including the Independent, the abolition of Ofwat is aimed at addressing concerns over rising bills and the regulator's inability to effectively oversee the water industry.