Question to the Department for Environment, Food and Rural Affairs:

To ask His Majesty's Government, further to the Written Answer by Lord Douglas-Miller on 26 April (HL3909), why the calculation of  Regulatory Capital Value is not accompanied by a calculation of regulatory equity.

The value of regulatory equity is publicly accessible for each water company. Regulatory equity on the basis of a company's actual structure is Regulatory Capital Value less net debt.

Notional regulatory equity is published annually for each company by Ofwat. Ofwat also presents company gearing levels against actual structures in its annual monitoring financial resilience report.