As we look ahead to PR24 and beyond, the water sector in England and Wales faces a series of long-term challenges. To help make the right decisions for the long term, we are asking companies to set out their five-year business plans in the context of a long-term delivery strategy.
Long-term delivery strategies will see the water sector take steps to embed an adaptive approach to planning for the future.
In April 2022, we published our final guidance on long-term delivery strategies, setting out:
- our common requirements for long-term delivery strategies; and
- a small number of common reference scenarios, to help develop and test the strategies.
This follows our discussion paper in November 2021 and accompanying draft long-term delivery strategies data tables, as well as our consultation in May 2021 – PR24 and beyond: Creating tomorrow, together – which set out our ideas for PR24 and beyond.
Sector workshops
To help develop the common reference scenarios, we hosted three workshops in 2021 with companies, regulators and stakeholders.
First workshop, 1st October 2021
Long-term strategies and common reference scenarios
Creating the common reference scenarios
Second workshop, 15th October 2021
Common reference scenarios – second workshop
Third workshop, 17th December 2021
Our expectations for long-term delivery strategies at PR24 – third workshop
Fourth workshop, 25 May 2022
In May 2022, we then hosted a workshop to explain and clarify our final guidance
Long term delivery strategies at PR24: sector workshop
Long-term delivery strategies workshop: final minutes
Long-term delivery strategies workshop: responses to outstanding questions
Query process
In May 2022, we invited companies and stakeholders to submit up to five queries each on our final guidance on long-term delivery strategies.
Responses to queries on long-term delivery strategies
Development meetings
We met with each company in early 2023 to discuss how it was developing its long-term delivery strategy in line with our guidance. In April 2023, we published our overarching reflections on the meetings, setting out key points of feedback companies need to address as they finalise their strategies.
Ofwat’s reflections on development meetings for PR24 long-term delivery strategies