Commenting on the Treasury report setting out steps to address damaging impacts of cyclicality in the water sector, ICE Director General Nick Baveystock, said:
“A number of ICE studies over the years have consistently identified cyclicality as a driver of higher costs for the delivery of infrastructure managed by regulated utilities - costs which are ultimately paid for by consumers. Addressing cyclicality will, amongst other benefits, provide a platform for growing skills and capacity in the supply chain, leading to greater value for money in the long run.
"This report setting out actions to resolve these long standing issues is therefore welcome and timely. We stand ready to work with Government, OFWAT and the Water Industry on its implementation.”
More information on the Government's Infrastructure Cost Review is available on the HM Treasury website.