Seven years ago, totex was the biggest buzzword in the business - this was before 'innovation' was on everyone's lips, and long before most people had even heard of today's Labour leader Jeremy Corbyn with his headline-grabbing policy to renationalise the nation's energy and water companies. As the water and network industries prepared for PR14 and RII01, the introduction - or extension - of totex in the regulatory system was big news, with utilities keen to explore the approach but often worried about their ability to deliver.
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