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Our five-year plan from 2025 to 2030

We're pleased to present our five-year business plan for 2025 to 2030. 

We've set ourselves a tough challenge. Our ambition is a world where we've learnt from the past and adapted to the future to improve our service for you and the world around you. We listened carefully to local communities, stakeholders and our independent Customer Challenge Group  to inform our plan. And we're grateful to the nearly 20,000 customers who shared their views on our plan.

Following the publication of our proposed business plan, we held 'Your water, your say'  online session on 30 November 2023. You can view the presentation shown during the meeting .

April 2024 update

Since October 2023, our business plan has been updated in some areas. The key changes and their impact on expenditure and average bills are summarised below.

Latest information on our PR24 business plan

Since the submission of our PR24 business plan to Ofwat in October 2023, we've made some small changes to parts of our plan. These have been in response to requests from Ofwat or other regulators and to clarify some points in our original plan. In addition to this, we have had extensive engagement with the regulators to better understand the expectations for investment in AMP8 in relation to the:

• Water industry national environmental programme
• Industrial emissions directive
• Security and emergency measures direction

The result of these changes to date is that Ofwat are now considering a PR24 business plan for Thames Water that includes:

• Total expenditure of £19.8bn (up from £18.7bn in our October 2023 plan)
• Average annual customer bills of £608 by 2030 (down from £611 in our October 2023 plan)

We expect Ofwat's draft determinations will be based on this expenditure and these bills.

The increased investment in our capital programme doesn't result in a higher bill for customers. This is offset by the removal of some operational expenditure scope relating to the industrial emissions directive. Our regulators have clarified this doesn't need to be undertaken.

We're also proposing a “deliverability adjustment mechanism” for AMP8 which will cover £1.9bn of investment relating to WINEP8, IED and SEMD. We don't believe this work is deliverable in AMP8 and should therefore not be funded by customers at this time.

Subject to making good progress on our AMP8 investment programme, and demonstrating an increased supply chain capacity, then Ofwat could approve this investment to be funded by customers. If all of the funding was approved in AMP8, this could potentially lead to an average customer bill of £627 by 2030.

Updated data tables

• PR24 data tables - updated .xlsb | 7.2 MB
• Calculation of PR24 business plan costs for publication - April 2024 .xlsx | 23.4 KB

Our October 2023 business plan submission

• Summary of our PR24 Business Plan .pdf | 824.3 KB
• TMS01 PR24 Business Plan .pdf | 15.3 MB
• TMS02 Guide to our plan .pdf | 587.2 KB

Supporting evidence

The following documents provide greater detail and evidence that we've used to develop our five-year plan.

Technical appendices

• TMS03 Customer engagement .pdf | 4.9 MB
• TMS50 Customer engagement assurance phase D .pdf | 4.1 MB
• TMS04 What customers, communities and stakeholders want .pdf | 4.7 MB
• TMS05 CCG report .pdf | 1.4 MB
• TMS06 Our long-term delivery strategy .pdf | 4.3 MB
• TMS07 Bill impact, affordability and vulnerability .pdf | 2.5 MB
• TMS08 Our AMP8 Water Outcomes Delivery Strategy .pdf | 1.1 MB
• TMS09 Our AMP8 Wastewater Outcomes Delivery Strategy .pdf | 886.9 KB
• TMS10 Bioresources: AMP8 and market strategy .pdf | 825 KB
• TMS11 Our customer strategy .pdf | 1.6 MB
• TMS89 PR24 Financial model .xlsx | 9 MB
• TMS92 PR24 Bill waterfall model .xlsx | 208.1 KB

Data tables and commentaries

The following workbook and associated commentaries captures the supporting data that underpins our five-year plan.

Data tables

• TMS55 PR24 Data tables .xlsb | 7.3 MB

Data table commentaries

• TMS56 PR24 Data table commentary - Outcomes .pdf | 742.8 KB
• TMS57 PR24 Data table commentary - Risk and return .pdf | 747.7 KB
• TMS58 PR24 Data table commentary - Costs (wholesale) - Water .pdf | 945.4 KB
• TMS59 PR24 Data table commentary - Costs (wholesale) - Wastewater .pdf | 1 MB
• TMS60 PR24 Data table commentary - Water resources .pdf | 282.1 KB
• TMS61 PR24 Data table commentary - Bioresources .pdf | 327.4 KB
• TMS62 PR24 Data table commentary - Retail .pdf | 273.8 KB
• TMS63 PR24 Data table commentary - Developer services .pdf | 331.9 KB
• TMS64 PR24 Data table commentary - Long-term strategies .pdf | 337.3 KB
• TMS65 PR24 Data table commentary - Supplementary tables .pdf | 581 KB

Previous plans

Every five years, we as a business go through a process called the price review, during which we formulate our plans for the next five years and a limit is set for customer bills during that period, approved by our regulator Ofwat .

Supporting information

• Blind year adjustment consultation response .pdf | 1.2 MB
• Our plan at a glance - April 2019 .pdf | 92.3 KB
• Building a better future - April 2019 .pdf | 3.6 MB
• Building a better future: Response to Ofwat's IAP - April 2019 .pdf | 1.8 MB

Draft determination supplementary information September 2019

• Company representation proforma - September 2019 .xlsx | 81.1 KB
• Lower cost, lower investment scenario data tables - September 2019 .xlsb | 2.2 MB
• Financial model - September 2019 .xlsb | 11 MB

Draft determination documents August 2019

• Thames Water response to Ofwat's PR19 draft determination August 2019 .pdf | 2.5 MB
• Company representation pro-forma August 2019 .xlsx | 81.2 KB
• Resubmitted data tables August 2019 .xlsb | 2.1 MB
• Outcome representation data tables August 2019 (updated 12 September 2019) .xlsx | 100.6 KB
• Developer services data request August 2019 .xlsx | 2.1 MB
• Cost of capital for PR19 report for Thames Water .pdf | 1.2 MB
• Costs appendix .pdf | 122.7 KB
• Strategic regional solution development August 2019 .pdf | 751 KB
• Outcomes August 2019 .pdf | 578.6 KB
• Annex (Risk of severe restrictions in a drought - zonal calculations) August 2019 .xlsx | 61.1 KB

More about PR19 and our April 2019 business plan submission

• Outcomes supporting evidence - April 2019 .pdf | 3.3 MB
• Customers on priority services register performance commitment - April 2019 .pdf | 486.5 KB
• A review of Ofwat's PR19 approach to estimating frontier shift - April 2019 .pdf | 325.5 KB
• Assessing Ofwat's funding and incentive targets for leakage reduction - April 2019 .pdf | 868.9 KB
• What customers want - April 2019 .pdf | 5.3 MB
• Ofwat model - April 2019 .xlsb | 11 MB
• Bill waterfall model - April update .xlsm | 335.8 KB
• Finance and financeability - April 2019 .pdf | 2.3 MB
• WACC - Case for increased uncertainty - April 2019 .pdf | 637.4 KB
• Cost of capital for PR19 - April 2019 .pdf | 1.7 MB
• Ofwat - April update including strategic regional water resource .xlsb | 10.9 MB

Our September 2018 business plan submission

• Our plan at a glance .pdf | 93.4 KB
• Our plan – summary version .pdf | 4.1 MB
• Our plan 2020 to 2025 .pdf | 8.1 MB
• Appendix 1 Past performance and lessons learnt .pdf | 965.5 KB
• Appendix 2 Engaging and delivering for our customers .pdf | 5.7 MB
• Appendix 3 Affordability and vulnerability .pdf | 2.6 MB
• Appendix 4 Resilience .pdf | 563 KB
• Appendix 5 Innovation .pdf | 2.1 MB
• Appendix 6 Risk and return .pdf | 1.6 MB
• Appendix 7 Efficiency .pdf | 2.6 MB

Our Business Plan summary 2025–30

Stronger, Greener, Healthier: Our plan for the North West

The North West is an exciting and diverse region; it's where we live, work and play. We've built a plan for the next five years which has been shaped by, and adapted to meet, the diverse needs of the North West.

Highlights from our ambitious plan

Great quality water every time you turn on the tap.

Improving water quality for 1.4 million customers

Safeguarding water supplies for over 2 million customers

Investing £975 million in a programme to build a more resilient network, fixing leaks and replacing 950 kilometres of old pipes and mains

Improving resilience so we can halve the chance of having a hosepipe ban in the future

Our largest ever environmental investment programme

Improving the quality of our rivers by reducing storm overflow spills by 60% over the decade to 2030

Protecting and enhancing over 500 kilometres of rivers and improving our bathing waters and shellfish beds

Strengthening our network against increased rainfall to reduce flooding of homes and businesses

Working with local authorities to separate rainwater from our systems so we build more resilient communities as we all respond to the impacts of climate change such as flooding

Doubling our financial support for those who need it . . . making sure nobody gets left behind

Providing £525 million of affordability support for one in six customers who may be struggling to pay their bill

Installing 900,000 smart meters to help homes and businesses use less water and save money

Driving benefits for the North West's economy

Providing great quality skilled jobs, attracting much-needed and sustainable investment into the North West economy – we expect our plan would support 30,000 jobs across United Utilities and our supply chain

Louise Beardmore

Chief executive, the fantastic region we serve.

Our region is diverse and has been shaped by multicultural communities. It’s the birthplace of Kendal Mint Cake and scouse, classic literature like Peter Rabbit and Alice in Wonderland. It boasts numerous world-renowned sports teams. It’s the region that brought the world The Beatles, Oasis and Harry Styles as well as the bright colours of Manchester Pride and bright lights of Blackpool Tower Ballroom and Media City. It is underpinned by a rich diversity – home to Europe’s largest Chinese community and Britain’s oldest African community. The North West is somewhere we are proud to call home.

Over 7 million people and 200,000 businesses – by 2050 we’ll serve around 1 million more

The fourth smallest region by size, with the third largest population and home to 25% of England’s dairy herds

Our communities are diverse and have different levels of prosperity and needs

Levelling up is a priority, and devolution is advanced with 2 city regions

12% of households are affected by water poverty, more than 50% higher than the national average

40% more urban rainfall than the industry average

New environmental requirements are driving unprecedented long-term investment

Over 90% of drinking water comes from surface water sources

A legacy of industrial heritage and heavy manufacturing based on Victorian infrastructure

A growing economy which contributes 10% of national GDP

Providing great water for a stronger , greener and healthier North West

How our plan provides a stronger, greener and healthier North West

Helping people with their bills - doubling our support to

Investing in our region, enabling growth by upgrading

of water mains

reduction in interruptions to your water supply

customers helped by our financial support schemes

additional litres of water to ensure a reliable supply of water

reduction in the likelihood

of a hosepipe ban

new high quality skilled jobs

Reducing leakage by

Helping homes and businesses save

litres of water

to reduce spills from over 400 overflows

Investing around

to improve bathing and shellfish waters

hectares of SSSI to enhance biodiversity and water quality

Protecting and enhancing over

of rivers, spending over £900m to reduce nutrients

reduction in the number of pollution incidents

Spending £196m to reduce carbon emissions by

(against 2020 baseline)

Delivering a

reduction in sewer flooding in homes and businesses

reduction in water quality contacts

Enhancing safety at

reservoirs for people to enjoy their visit

Replacing lead pipes at

of the Vyrnwy Aqueduct, improving water quality for over 500,000 people

Improving bathing waters

for recreation

Here you can download a summary of our plan for the entire North West region as well as summaries for each of the five counties of Cheshire, Cumbria, Lancashire, Greater Manchester and Merseyside.

Regional summary

County summaries:

Greater Manchester

Merseyside (including Halton)

Our full business plan

Read more about our plan in the below documents.

• Chapter 1 Executive Summary
• Chapter 2 Great water for the North West
• Chapter 3 Customers and communities shape our business plan
• Chapter 4 Driving affordability
• Chapter 5 Delivering great service
• Chapter 6 Delivering social and environmental value
• Chapter 7 Resilience and asset health
• Chapter 8 Delivering at efficient cost
• Chapter 9 Risk, return and responsible behaviour
• Chapter 10 Assurance and track record
• Board Assurance Statement
• Long-Term Delivery Strategy

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Our future plans - pr24 business plan and long-term delivery strategy, our future plans - business plan 2025 to 2030 and long-term delivery strategy.

Our business plan sets out how we will improve our service to customers between 2025 and 2030.

It will enable us to deliver our purpose - to harness the potential of water to enhance nature and improve lives - which recognises our unique role in society, one where through our day-to-day business we can deliver additional benefits beyond the provision of safe, clean and reliable drinking water. 

At a glance: our business plan

You can download a summary of our plan below. 

• SES Water business plan summary 2023_FINAL (3.9MB)

Our business plan chapters

The plan has been organised into 11 chapters, each of which can be downloaded from the list below. 

• Section 1 SESW Guide to our business plan for 2025 to 2030_FINAL (548KB)
• Section 2 SESW_Executive summary_FINAL (341KB)
• Section 3 SESW_About us and our track record_FINAL (640KB)
• Section 4 SESW Long Term Delivery Strategy_Final (512KB)
• Section 5 SESW Our customers and their priorities_Final (844KB)
• Section 6 SESW The outcomes we will deliver_Final (962KB)
• Section 7 SESW Explaining our costs_Final (812KB)
• Section 8 SESW Financing our plan_Final (459KB)
• Section 9 SESW Affordability_Final (432KB)
• Section 10 SESW Our delivery plan_Final (941KB)
• Section 11 SESW Governance and assurance_Final (444KB)

Latest information on our PR24 business plan 

Since submission of our PR24 business plan to Ofwat in October 2023, we have made some minor changes to parts of our plan. These have been in response to requests from Ofwat or other regulators and to clarify some points in our original plan. The result of these changes to date is that Ofwat are now considering a PR24 business plan for SES Water that includes total expenditure of £413.9 million (up £0.6m from £413.3 million in our October 2023 plan), and average annual customer bills of £262 by 2030 (up £1.86 from £260 in our October 2023 plan). Ofwat's draft determinations will be based on this expenditure and these bills.

The reason for the change to our total expenditure for PR24 relates to some addition IT Cyber Security costs associated with our Smart Metering rollout, and some small changes to timing of some of our expenditure plans.   Both of these had a small knock on effect on the average customer bill by 2030.

You can download a copy of our latest Business Plan tables here:

• SES Water PR24-BP-tables-Revised 28 Mar 2024 (10.6MB)

A summary of the key changes are here:

• Calculation of PR24 business plan costs for publication - March 2024 (31KB)

Our long-term delivery strategy

Our long-term delivery strategy shows the priorities and level of ambition we have during the next 25 years and can be viewed by downloading the file below.

• SESWater_LTDS_FullDocument_FINAL (1.8MB)

Supporting documents

We've published a number of supporting documents that cover our business plan and long-term delivery strategy

• SES001 LTDS - Development Process (1.3MB)
• SES002 LTDS Long-term Ambitions and Priorities (4.4MB)
• SES003 LTDS - Future Scenarios Detailed Report (1.3MB)
• SES005 Explaining Our Costs (3.3MB)
• SES006 Enhancement Case - Water Quality Enhancement (2.7MB)
• SES008 Enhancement Case - Enhanced Leakage and Network Resilience (804KB)
• SES010 Enhancement Case - Environmental Improvement (1.4MB)
• SES012 External Assurance FINAL (7.2MB)
• SES013 Household Customer Strategy (532KB)
• SES014 Customer Research Summary and Methods (1.1MB)
• SES015 Customer Insight Synthesis and Triangulation (1.0MB)
• SES018 Customer Research Reports (29.3MB)
• SES024 ODI Design and Calibration (708KB)
• SES027 Cost Adjustment Claim - Pumping Costs (764KB)
• SES028 Cost Adjustment Claim - Regional Wages (576KB)
• SES029 Cost Adjustment Claim - Softening (1.7MB)
• SES030 Cost Adjustment Claim - Retail Scale (473KB)
• SES032 DWI Submission - Long Term Planning for the Quality of Drinking Water (4.3MB)
• SES034 Ofwat Letter - LTDS Meeting Feedback (716KB)
• SES035 Operational Greenhouse Gas Emissions - Proposed Trajectory (2.3MB)
• SES036 Environment and Biodiversity Evidence (4.5MB)
• SES037 EA Letter - WINEP Programme (520KB)
• SES038 Rebecca Pow MP - Letter and Response (694KB)
• SES040 Customer and Environmental Scrutiny Panel Final Assurance Report (1.2MB)
• SES043 Resilience Framework - Adoption of System Based Thinking (969KB)
• SES044 DMA Asset Health (2.3MB)
• SES046 Cost of Debt Cost of Equity and Inference Analysis Cross Check on Allowed Returns (5.0MB)
• SES048 Financial Stress Testing Scenarios (496KB)
• SES051 Cost Benefit Anaylsis Smart Metering (839KB)
• SES052 Pioneer Modelling (1.2MB)
• SES053 PR24 Governance Framework (1.0MB)
• SES063 Price Control Deliverables and Reporting Metrics (626KB)
• SES064 Impact of Covid on Water Consumption (17.0MB)
• SES065 Dividend and Executive Pay Policy 2025-2030 (1.2MB)
• SES067 Bough Beech and Fetcham Springs Master Plans (3.3MB)
• SES069 RoRE Ranges and RR30 Table Commentary (693KB)
• SES070 Bid Assessment Framework (955KB)
• SES071 Glossary of Terms (457KB)
• SES073 Bespoke Softening Performance Commitment (796KB)
• SESQAA - Signposting-document-for-quality-and-ambition-assessment (42KB)
• PR24-BP-tables-V6-Final for Submission 2 Oct (7.5MB)
• SES_PR24NotionalFinancialModel_v5_Clean (8.7MB)

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