Key water sector stakeholders met early this month to discuss concerns for the sector following the vote to leave the EU.
Three "priority areas" of focus were flagged up, to ensure the sector delivers to its customers during and after the EU negotiation period;
- maintaining access to a full range of low-cost finance
- setting out clear long-term policy direction
- designing smart legislation that benefits customers and the environment
“The success of the water sector has been built on a stable and predictable regulatory and business environment,” said Water UK in a policy statement. “This has enabled water companies to raise long-term finance to deliver benefits to customers and the environment at an affordable price.
“Post-referendum, the water sector like all other industries is assessing the potential impacts across a range of areas.”
There are particularly concerns about the future of funding from the European Investment Bank, which has signed off around £5.5 billion of finance contracts to the UK water sector since 2010.
“We will work with government to seek assurances from the European Investment Bank on access to finance during exit negotiations and to identify longer-term options for access to low rate infrastructure finance,” said Water UK.
Read more in articles:
Brexit and the water sector– an opportunity for Natural Infrastructure? (Water Briefing)
Water sector 'needs clear policy direction' following Brexit vote (WET news)