Fair rate of return for the regulated water industry in England and Wales

At a time of heightened scrutiny of the water sector, Vivid was engaged by Defra to bring together evidence on historical returns earned by investors in water companies, consider how best to measure returns and ask whether the returns are fair. Our review consolidates a large body of public data and analysis on returns and suitable benchmarks – and highlights implications for ongoing work to ‘put the sector back in balance’ at PR19.