What it is
We are reviewing our long-term plan (‘our strategy’) for regulating the water sector in England and Wales. We will develop a strategy that sets out how we plan to:
- deliver our legal duties;
- meet our other obligations (for example, our obligation as a public sector organisation to deliver value for money); and
- contribute to the priorities of the UK and Welsh Governments.
The new strategy will replace ‘Delivering sustainable water – Ofwat’s strategy’, which we published in March 2010.
What we aim to deliver
A document that sets out our long-term vision for the water sector and Ofwat (our ‘vision’).
A strategic business plan that sets out how we will implement our vision in 2015-16 to 2017-18.
An operational delivery plan and forward work programme for 2015-16.
A document that sets out how we plan to monitor our external environment and measure our progress towards our vision (a ‘dashboard’).
A programme of business transformation to support the implementation of our new strategy.
How we will do it
We will consult on our draft vision in summer 2014.
After considering responses to our consultation and other engagement we have with our stakeholders, we will publish our final vision in autumn 2014.
Based on our vision, we will develop and consult on our strategic priorities.
We will use our vision and strategic priorities to develop our strategic business plan for 2015-16 to 2017-18 and our operational plan and forward work programme for 2015-16.
We will consult on and publish our performance framework for measuring our progress towards our vision.
Benefits of this project
A clear plan for how Ofwat will deliver its duties and other obligations.
Opportunity for stakeholders to inform how we do our job.
Certainty and transparency for stakeholders on our long-term priorities and focus of our work.
Ensuring that the companies we regulate put their customers at the heart of their decision making.
Key dates in 2014-15
Publish a draft vision for consultation (April to June).
Publish a final vision (October to December).
Consult on and publish our final strategic priorities (October to December).
Consult on how we will monitor our external environment and progress towards our strategic priorities (October to December).
Publish our conclusions on how we will monitor our external environment and our progress towards our strategic priorities (October to December).
Consult on our forward work programme for 2015-16 (January to March).
Publish our final forward work programme for 2015-16 (January to March).