Former SA Water chair, Essential Services Commissioner and ETSA CEO Lew Owens was last year appointed by Treasurer Rob Lucas to oversee an independent inquiry into water pricing in SA.

InDaily can reveal that Owens has distributed an interim report to stakeholders – entitled “A Cautious Conclusion” – whose economic modelling suggests the valuation of SA Water’s asset base has likely been overstated by at least $421 million – and as much as $1.071 billion.