Our five-year plan from 2025 to 2030
Every five years, we as a business go through a process called the price review (PR). During this, we formulate our plans for the next five years. A limit is set for customer bills during that period, approved by our regulator Ofwat.
PR24 covers the regulatory period for 2025 to 2030. Ofwat's decision on our plans is called the Final Determination.
We've set ourselves a tough challenge. Our ambition is a world where we've learnt from the past and adapted to the future. This will improve our service for you and the world around you.
Referral of our Final Determination to the Competition and Markets Authority (CMA)
We have asked Ofwat to refer our Final Determination for PR24 to the CMA for a re-determination.
Our Board made this decision unanimously for our customers, communities and the environment. This is after concluding that it doesn’t offer appropriate support for us to make the improvements needed over the next five years.
The challenges of our Final Determination
We’ve engaged with Ofwat to seek to secure a Final Determination that reflects our current position and supports our turnaround. While there has been progress, after a thorough review, it is clear that there remain significant gaps between the Final Determination and what we need to deliver for customers and the environment.
In our referral to the CMA, we are seeking:
- A regulatory settlement that reflects the circumstances of Thames Water’s operating area
- Targets that are challenging but achievable
- An appropriate balance of risk and return
There will be no delay to the delivery of our plans for year one of AMP8 as a result of this referral. Customer bills for 2025-26 will be unaffected.
Full details of our statement of case will be provided to the CMA in due course, in line with the process timetable.
Draft determination response
View our response to the draft determination:
Previous updates
View previous updates to our business plans.
April 2024 updates
We made some changes to our business plan for 2025-2030 in April 2024.
October 2023 submission
The original plan for 2025-2030, submitted to Ofwat in October 2023.
AMP7 (2020-2025 plans)
Business plan submissions and supporting information from our AMP7 period.