Water companies support all aspects of life. Safe and reliable water and wastewater services are essential for our day to day lives, our wellbeing, and our natural world. Customers in England and Wales expect those services to keep improving, and for water companies to deliver benefits to the environment and wider society. Our 2019 price review set stretching targets to drive up performance over the next five years.
We’re now looking ahead and thinking about how we can encourage companies to build on progress to date.
In December 2020 we shared our first discussion paper for the 2024 price review (PR24). PR24 and beyond: Future challenges and opportunities for the water sector reflected our initial thinking for how to deliver better outcomes for customers, the environment, and wider society.
In May 2021, we shared our ideas and ambitions for PR24 in PR24 and beyond: Creating tomorrow, together. We’ve set out four ambitions for what PR24 can achieve for customers and the environment, and principles for how we’ll approach and design the price review.
We published the PR24 draft methodology on 7 July 2022.