What is WaterFuture?
Every five years we submit our investment plans which are known in the industry as a ‘Price Review’. The next Price Review is in 2019 and it will determine prices for the period 2020-2025. The process of looking forward and understanding customer priorities for us at South West Water is called ‘WaterFuture.’ The development of the plan is overseen and challenged by an independent WaterFuture Customer Panel.
Our Business Plan
The plan must reflect what we need to do to meet statutory and legal obligations determined by Directives such as the European Union’s Bathing Waters or requirements set out by our regulators like the Environment Agency and Drinking Water Inspectorate. The plan must also reflect what is important to our customers.
Ahead of submitting the 5 year plan we have set out our long term vision.
Once our plan is submitted to Ofwat – it is assessed before Ofwat issue its Draft and Final Determination of each company’s plan which sets price limits over the five years.
It is important to remember funds for investment do not come through central or local government. Every company must finance its investment proposals with revenue from customers and by attracting large scale investors such as pension funds and banks.
We want to make sure the plan reflects the views, needs and wants of our current and future customers. We have been carrying out research through surveys and focus groups to seek your views and find out what your priorities are. Over the coming weeks this feedback will be posted here to encourage more customers to come and have their say.