The Independent Water Commission must ensure that water bills and spending allowances are sustainable and appropriate for maintaining assets and delivering services. If the price review process is retained, the Commission must begin the process of reforming it to ensure that allowances are calculated fairly and openly, and to ensure the process does not impede reasonable challenges. The process should ensure that bill revenues are not lowered in real terms, unless under extreme circumstances. If done in conjunction with reform to the regulation of debt 49 and dividends, ensuring that more revenues can be invested into the sector, it may be possible to make the case for higher bills in return for better performance. More broadly, the Commission needs to get to the bottom of why a culture of unsustainably low bills was accepted by companies, regulators and government, and set out the reforms or principles needed to ensure that this does not happen again. The Commission will likely need to consider all the core planning processes that identify investment and make sure these are fit for purpose. (Recommendation, Paragraph 42)