Ofwat Ofwat comment on CMA determinations We are yet to review the detail of the CMA’s determinations, but it is clear the CMA has listened to representations from Ofwat and consumer groups. It has significantly reduced the returns allowed for investors, compared to its proposals last year. This package from the CMA will help drive Anglian Water, Bristol Water, Northumbrian Water and Yorkshire Water to improve their efficiency and deliver better outcomes. Sizeable investment is required in the water industry over coming years and it is vital the sector remains attractive to investors across the globe. But to maintain public trust, it is also important that investor returns are properly earned and reflect what companies deliver for customers and the environment.