Understand
Ofwat appoints Grant Thornton to oversee South East Water turnaround plans
Overview
Regulator Ofwat has appointed consultants Grant Thornton to monitor South East Water's enforced £30.5m investment and improvement plans following repeated failures and supply issues affecting homes in Kent and Sussex.
Key points
- Consultants Grant Thornton will track South East Water's governance, operations, and financial resilience after three investigations found repeated failures.
- South East Water was ordered to spend £30.5m on improvements following supply issues that affected thousands of homes.
- The independent monitor contract will cost £6m and will be funded by the water company rather than customer bills.
- The monitoring arrangement will initially run for two years, with the potential for an extension until October 2030.
- John Halsall took over as South East Water's chief executive in July following the resignation of the previous chief executive.