Price Controls 210 · On-demand course
A recorded case study from MCC Economics on how Ofwat sets five-year price controls for water companies in England and Wales, and how customer engagement, transparency and outcome-focused regulation now shape every price review.
Price Controls 210 is delivered by practitioners who have worked on Ofwat price reviews, including the 2024 price review.
Course lead
Director, MCC Economics
PJ has worked on price controls from the regulator's side and for regulated companies, including RIIO-2 work with Ofgem and the Utility Regulator for Northern Ireland.
I heartily recommend PJ to anyone seeking input on the financial parameters that underpin different regulatory models.
Price Controls 210 is a recorded case study of how Ofwat regulates water and wastewater companies in England and Wales. It follows the price reviews from PR14 to PR24, explaining how five-year controls are set from company business plans and how totex, outcome delivery incentives, C-MeX, D-MeX and customer challenge groups shape the final settlement.
You will be able to explain how an Ofwat price review works and what drives the final settlement. The course is built around three outcomes.
The lecture sets out Ofwat's regulatory context and the basics of a price review, then follows the reviews in sequence.
These are the terms the course uses most, in plain English.
| Term | Meaning |
|---|---|
| Ofwat | The Water Services Regulation Authority, the economic regulator for water and wastewater companies in England and Wales. |
| Price review | Ofwat's process for setting each company's allowed revenue, service targets and incentives for the next five years. |
| PR14, PR19 and PR24 | Ofwat's price reviews held in 2014, 2019 and 2024, setting price controls from 2015, 2020 and 2025. |
| Totex | Total expenditure: capital and operating spending assessed together as one figure. |
| Outcome delivery incentives | Rewards and penalties linked to performance commitments, such as leakage or supply interruptions. |
| C-MeX | The customer measure of experience, which rewards or penalises companies for the service household customers receive. |
| D-MeX | The developer services measure of experience, which does the same for service to property developers. |
| Customer challenge groups | Independent groups that scrutinised companies' business plans and customer research before Ofwat's decisions. |
It suits anyone who works in, advises or studies water regulation.
Price Controls 210 is the water counterpart to the energy case study in Price Controls 200, and applies the courses on capital spending, incentives and totex.
Browse every title on the MCC Economics courses page.
MCC Economics advises regulators, government bodies and utilities on price controls in the United Kingdom and the Gulf, and has contributed to Ofwat's 2024 price review. Its published work on water regulation includes papers on business plans for PR19 and on the PR24 final determinations. The firm was founded in London in 2017, and its regulatory economics work covers energy, water, aviation and infrastructure. You can read the team's background on the people page.
MCC Economics has helped us better understand the most important issues for our stakeholders, including: charges, shareholder returns, debt payments and inflation impacts.
See the instructor profiles near the top of this page for the current teaching team and their experience.
No. Price Controls 210 is recorded course material only, so there is no meeting to attend. You get immediate access to the materials once you register.
A video lecture, presentation slides, a transcript and a quiz.
Ofwat's price reviews from PR14 to PR24, each of which sets a five-year price control for water and wastewater companies in England and Wales.
Outcome delivery incentives, the customer measure of experience (C-MeX) and the developer services measure of experience (D-MeX), alongside totex.
No. Ofwat regulates water companies in England and Wales. Scotland and Northern Ireland have separate arrangements.
It is not required, but Price Controls 160 and Price Controls 170 cover incentives and totex, both central to Ofwat's approach.
Contact MCC Economics through the consultation page to discuss access for a team or training tailored to your organisation.
Page last reviewed October 2026.
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