At PR19 we conditionally allowed Thames Water a £300 million allowance to enhance the performance of its London water network. The allowance is conditional on Thames Water delivering an agreed scope of work through a gated process, and on a substantial contribution from shareholders to the cost of the improvement works.
We subsequently assessed the enhancement proposals through a number of gates. We wrote to Thames Water on 15 November 2022 to confirm that Thames Water could exit the gated process with respect to the London water network conditional allowance and deliver the agreed scope subject to making appropriate changes to the company’s PR19 performance commitments to reflect the forecast benefits resulting from the conditional allowance.
If you would like to raise views in relation to this notice, please send these to [email protected] by 14 March 2023.
Subject to considering views raised, we expect to make the proposed changes to Thames Water’s Outcomes performance commitment appendix. To note, the final changes will be effective as of 15 November 2022.