Our Business Plan 2020 to 2025

We are in the process of developing our Business Plan for 2020 to 2025 which will set out the investment we’ll make and the targets we’ll set to improve your service.

'5 years, 5 pledges' is our draft version of the plan which seeks to address your priorities for a fair price. We launched a consultation which closed on 8 June but you can still read the document below. 

The feedback we recieved will help inform our final plan, which we submit to Ofwat in September 2018. 
 

 

The following timeline sets out how we are developing our next Business Plan:
 

May – July 2017:  'Listen, learn and inform' - we gathered views on customer priorities, now and in the future through focus groups and in-home interviews.

October 2017 to January 2018: 'Test and review' - we asked more detailed questions about different aspects of our services and how much customers would be prepared to pay for improvements. We also asked a wider range of customers about their priorities, including those experiencing difficult circumstances.

January 2018: Publication of our Long Term Vision – tell us what matters most to you in the future.

February 2018: Public consultation on our draft Water Resources Management Plan – let us know what you think about our plans to secure water supplies.

Spring 2018: 'Seeing the full picture' – we have published our draft Business Plan and need to know whether our plan reflects your priorities and delivers more of what matters most to you.

Summer 2018: We’ll update and finalise our Water Resources Management Plan and submit it to the Government for approval – the first five years will be included in our Business Plan for 2020 to 2025.

We’ll finalise our Business Plan based on your feedback.

September 2018: We’ll submit our Business Plan 2020 to 2025 to Ofwat.

January 2019: Ofwat will provide us with its initial view of our Business Plan.

December 2019: Ofwat will make its final determination on our plan and set the service levels we must deliver and the cost of bills for 2020 to 2025.


The role of Ofwat

Ofwat was created when the water industry was privatised in 1989. As most people cannot choose their water supplier, one of the economic regulator's duties is to set the price, investment and service package that customers receive. They do this every five years and must balance the interests of customers with ensuring that companies can pay for and deliver the services they need to. 

Ofwat is making changes to the regulatory framework from 2020. These changes are to encourage competition in the provision of water resources, the part of our business that abstracts water from rivers or the ground. In order to make these changes, Ofwat has asked us to supply them with our view on the relative proportion of the business, the 'Regulatory Capital  Value', that is used in water resources. Our submission to Ofwat has been externally assured and signed off by the Company’s Board of Directors.

To find out more visit https://www.ofwat.gov.uk/


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