Ofwat chief executive to resign at end of month

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David Black, the chief executive of Ofwat, will be stepping down at the end of the month, as confirmed by the water regulator. Ofwat, responsible for overseeing the water sector in England and Wales, stated that Black has chosen to depart in pursuit of new opportunities. His tenure as chief executive, which began in April 2022, will come to an end, with Black expressing his well wishes to the team as they carry on their crucial work.

According to Ofwat, an interim chief executive will be appointed in the near future. Iain Coucher, the chair of Ofwat, commended Black for his dedication in driving significant changes within the water industry. This decision to step down follows mounting criticisms of water companies due to issues like leaking pipes and sewage spills, resulting in pollution incidents reaching a new peak in England.

A recent report on the water industry, which made 88 recommendations for reform, called for substantial increases in bills to support investments, mandatory use of smart meters, and the dismantling of Ofwat. Environment Secretary Steve Reed confirmed the abolition of Ofwat following the report’s release, attributing blame not only to the regulator but also to the government and water firms for the sector’s condition. The report highlighted the need for improved governance and accountability in decision-making processes within the water industry.

Since their privatisation in 1989, water companies have disbursed over £54 billion to shareholders, raising concerns about their financial sustainability. The report criticized the water firms for their approach to sewage spills and questioned the prioritisation of shareholder payouts over infrastructure improvements. Despite calls for the renationalisation of the water industry in England and Wales, the government cited financial constraints as a reason for not pursuing this course of action

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