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This document sets out emerging thinking about a new shared vision for the water sector and Ofwat’s strategy for regulating the water and wastewater companies in England and Wales from 2020 onwards. We will publish the final version in the autumn. We welcome views on all aspects, particularly whether the ideas and approaches in it will help us drive positive lasting change. You can feedback your thoughts and join the conversation at www.ofwat.gov.uk/vision-waterstories/