Our methodology for PR24 sets out how we will drive companies to deliver more for customers and the environment. The methodology reflects our four key ambitions for the review: focus on the long term, deliver greater environmental and social value, reflect a clearer understanding of customers and communities, and drive improvements through efficiency and innovation.
Key documents
Creating tomorrow, together: our final methodology for PR24 Overview
Creating tomorrow, together: our final methodology for PR24
Creu yfory, gyda’n gilydd Ein methodoleg derfynol ar gyfer PR24 Rhagair a crynodeb gweithredol
Technical appendices
PR24 Final Methodology – Appendix 1 Affordability
PR24 Final Methodology – Appendix 2 Water trading incentive
PR24 Final Methodology – Appendix 3 Developer services
PR24 Final Methodology – Appendix 4 Bioresources control
PR24 Final Methodology – Appendix 5 Direct procurement for customers
PR24 Final Methodology – Appendix 6 Your Water, Your Say
PR24 Final Methodology – Appendix 7 Performance commitments
PR24 Final Methodology – Appendix 8 Outcome delivery incentives
PR24 Final Methodology – Appendix 9 Setting expenditure allowances
PR24 Final Methodology – Appendix 10 Aligning risk and return
PR24 Final Methodology – Appendix 11 Allowed return on capital
PR24 Final Methodology – Appendix 12 Quality and ambition assessment
PR24 Final Methodology – Appendix 13 Data and modelling
PR24 Final Methodology – Appendix 14 Impact assessments
Additional documents
PR24 final methodology – glossary
Guidance for water companies – Principles for setting out comparative company performance data
FTI Consulting – Early view of water sector betas for PR24
PwC – Retail services efficiency review 2022
Submissions tables
The Submission tables and the 12 guidance documents are available on a single page.
Financial models
PR24 final methodology financial model (Openbox file)
PR24 final methodology financial model (Excel file)
PR24 final methodology post external review financial model (Openbox file)
PR24 final methodology post external review financial model (Excel file)
PR24 final methodology financial model user guide.
PR24 RCV adjustments feeder model
PR24 Revenue adjustments feeder model
PR24 balance sheet cost of debt model
Consultation on return on RCV calculations in the PR24 financial model
PR24 Final Methodology Model Review Report
Model Suite Diagram
PR24 final methodology model suite diagram
City Briefing
Our final methodology for PR24 – Script for City briefing, 13 December 2022
Our final methodology for PR24 – Slides for City briefing, 13 December 2022
Ofwat PR24 City Briefing Transcript of presentation and Q&A
Video recording of the PR24 Final Methodology: City Briefing
Direct Procurement for Customers Guidance
Guidance for water companies delivering direct procurement for customers projects