In April, Ofwat consulted on some targeted amendments and clarifications to their methodology for PR19 to better align interests of investors in water companies with customers. They set out:
proposals for companies to share financing outperformance from high gearing
expectations for PR19 business plans around transparency of dividend and performance-related executive pay policies; and,
clarificiations on how we expect companies to demonstrate financial resilience in business plans.
Ofwat have set out the consultation outcome here and will publish a full position statement summarising issues and responses later in July.