10/16/2026
The UK Water Reform Bill, announced on 29 September, removes restrictions on government ownership of shares in major water and sewerage companies in England, excluding water-only companies. Fitch Ratings does not expect this change to affect sector risk assessments. The Bill also establishes a framework for increased public oversight of service delivery standards
Our base case remains that the planned reforms will support a clearer, more coordinated regulatory framework for the sector. If developments continue to align with these expectations, we anticipate reviewing the regulatory environment at the start of the AMP9 regulatory period.
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