Introduction
As the economic regulator of publicly owned Scottish Water, the Water Industry Commission for Scotland (WICS) works to ensure that the industry is internationally admired for excellence and sustainable for today’s customers and future generations.
This report outlines our work in 2024-25, the fourth year of a six-year regulatory control period. It is presented in three parts:
- The performance report:
- Statements from the Chair and Chief Executive Officer/Accountable Officer (“the CEO”) reflecting the year and WICS’ performance during the period.
- The performance overview section explains our purpose, the outcomes we aim to achieve, and our objectives. It summarises our performance in delivering those outcomes and objectives and the impact of and management of key risks.
- A performance analysis provides a detailed performance review of the period.
- The accountability report:
- The directors’ report
- A statement of the Accountable Officer’s responsibilities
- The governance statement
- A remuneration and staff report
- A parliamentary accountability report
- The independent auditor’s report
- The financial statements:
- Statement of comprehensive net expenditure for the year to 31 March 2025
- Statement of financial position at 31 March 2025
- Statement of cashflows for the year to 31 March 2025
- Statement of changes in equity for the year ended 31 March 2025
- Notes to the financial statements