Ofwat, the water regulator for England and Wales, should be replaced by a new, more powerful "integrated regulator", a landmark review into the water sector has advised.
The much-anticipated final report from the Independent Water Commission, led by former Bank of England deputy governor Sir Jon Cunliffe, outlined 88 recommendations to the UK and Welsh governments to turn around the ailing industry.
The review came at a time when the public has a record-low confidence in the private water companies that manage the UK’s sewage and water distribution network.
Most of the UK’s water companies are struggling with massive amounts of debt and an outdated and leaky network that sees them routinely failing to meet pollution targets.
There has also been widespread anger at soaring water bills and bosses’ bonuses, with this review unlikely to lead to any dramatic change in either aspect.
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