This document invites comments on our proposal to modify condition T of Thames Water Utilities Limited’s (Thames Water) conditions of appointment (licence). Condition T regulates Thames Water’s involvement in the Thames Tideway Tunnel project. The intention is to modify the licence provision that regulates how gains and losses from land sales are shared between Thames Water and customers. It relates only to the sale of land purchased by Thames Water to give effect to the Thames Tideway Tunnel project. This change will give effect to a different sharing arrangement between Thames Water and customers so that Thames Water is incentivised to increase value for customers via the sale of Thames Tideway Tunnel project land.
Under section 13 of the Water Industry Act 1991 (WIA91), we are able to modify the conditions of a company’s licence if it agrees to the changes we are proposing to make. Thames Water has agreed to the modification set out in this document.
This document is a Notice under section 13 of the WIA91.