Incentivise Appropriate Innovation (Water Industry)

Defra to work with Ofwat and other regulators to develop a metric for innovation across water companies and incentivise appropriately. The incentive would be finacnical and provisional on the innovation being shared amongst other water companies. Although not close to the detail, I am aware of a similar mechanism already in place within the wholesale energy market to stimulate and share innivaiton in that sector.

We are regualted by a number of bodies including Defra, Ofwat, DWI and EA and balancing the sometimes competing objectives is often a barrier to innovation.

 

 

Why the contribution is important

Incentivising appropriate innovation would promote a risk based approach to regulation, allowing opportunities to embrace new/novel technology realising benefits for the regulator, water industry, water industry customers and wider society.

by m1hart on January 07, 2016 at 10:45AM

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