Letter to the Chief Executive, Water UK,
from the Director General, Ofwat
FINANCIAL MODEL
RULE BOOK
Many thanks for your letter of 2 November.
David Rees and I discussed this matter before
we made a decision and issued the Rule Book. I was well aware
of the arguments being used by the companies and believe that
we have acted transparently and given the companies considerable
insight into the way the model works.
The model has, of course, been independently
audited.
In short, our decision stands.
I copy, as you did, to Alan Davis, although
I do not think he has a direct responsibility in this matter.
6 November 1998
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