Water regulator Ofwat has denied a request by the local water companies to hike their Cheddar Reservoir 2 early-stage development budget from £12 million to £60 million.
The extra money was requested to "manage expanded project scopes" and complete ground investigations before a spade has even been put in the ground.
Since Ofwat is primarily there to protect consumer interests, we welcome this refusal, since the extra £48 million would have come from consumer water bills. Of course, it's a drop in the ocean compared to the £1 billion predicted project costs...
