pr19 business plan data tables

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Our business plan

For the next five years (2025 - 2030).

We're proud to present our business plan for 2025–2030. What our customers want shapes what we do, and our business plan focuses on the next five years of that journey. It reflects new requirements from our regulators and the feedback we’ve had from our customers and our stakeholders. It’s helped drive the pace and scope of our plan and our long-term ambitions.

What is our purpose?

We’re focused on building our resilience and providing a long-term sustainable supply of high-quality water, while protecting our environment for our communities – now and in the future.

What is our aim?

Our aim is to provide efficient and affordable services, both now and in the long term.

Our long-term ambitions

These are focused on four key areas:

• The Environment 
• Our customers
• Our communities

Read our plan and supporting evidence below. Take a look at how we've engaged customers with our plans and what they told us.

Our business plan 2025 - 2030

Post submission publications

Latest information on our PR24 business plan

Since the submission of our PR24 business plan to Ofwat in October 2023, we have made 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 Affinity Water that includes total expenditure of £2,127 million (up from £2,124 million in our October 2023 plan) and average annual customer bills of £217 by 2030, the same as 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 and associated average annual customer bills is as a result of minor changes to align our WRMP and business plan and to correct a small number of inaccuracies. 

Calculation of PR24 business plan costs for publication - March 2024

PR24 - Part 1 Commentary - Outcomes (post submission 16-11-23)

PR24 - Part 3 Commentary - Costs (wholesale) water (post submission 16-11-23)

AFW - PR24 BP Tables V6 - Post submission update 25 January 2024

AFW - PR24 BP Tables V6 - Post submission update 8 February 2024

WINEP Reconciliation Model

Residential Retail Reconciliation Model

Our long term plan 2025 - 2050 (PDF 8.16MB)

PR24 Business Plan

• AFW00 - Guide to our plan
• AFW01 - Affinity Water PR24 Business Plan
• AFW39 - Customer version of the plan
• AFW51 - Affinity Water Long-Term Delivery Strategy
• AFW62 - Q&A signposting form
• AFW02 - Past performance
• AFW03 - Strategic Direction Statement
• AFW04 - What customers and stakeholders want
• AFW05 - 'What customers and stakeholders want' methodology
• AFW06 - Developer experience
• AFW07 - Update on our resilience action plan
• AFW08 - Our investment development process
• AFW09 - Atkins assurance letter
• AFW10 - Accelerated Infrastructure Projects (AIP)
• AFW11 - Water UK Report and set of forecasts by Cornwall Insight
• AFW13 - Base investments
• AFW14a - Enhancement investment cases
• AFW14b - Enhancement investment cases
• AFW15 - Green finance framework
• AFW16 - Treatment of energy costs in base models (KMPG)
• AFW17 - Outcomes
• AFW18 - Bespoke performance commitments
• AFW19 - Price control deliverables
• AFW20 - RORE risk ranges - Economic Insights
• AFW21 - Financeability considerations
• AFW22 - Risk and Return cost of equity (KPMG)
• AFW23 - Inference analysis (KPMG)
• AFW24 - Record of board meetings
• AFW25 - Real price effects retail (KPMG)
• AFW26 - KPMG assurance letter
• AFW28 - PwC assurance letter
• AFW32 - Deliverability of our plans
• AFW34 - WISER report
• AFW36 - Independent Challenge Group report
• AFW37 - Dividend policy
• AFW38 - Remuneration policy
• AFW40 - Direct Procurement for Customers
• AFW41 - Case studies
• AFW42 - Cost adjustment claim - regional wages
• AFW43 - Cost adjustment claim - Transience - Economic Insight
• AFW45 - Affordability and acceptability research results (accent)
• AFW46 - First economics - PR24: Input price inflation
• AFW47 - Alternative WACC
• AFW48 - Centrus report

Data tables commentary

• AFW52 - PR24 - Part 1 Commentary - Outcomes
• AFW53 - PR24 - Part 2 Commentary - Risk & return
• AFW54 - PR24 - Part 3 Commentary - Costs (wholesale) water
• AFW55 - PR24 - Part 5 Commentary - Water resources
• AFW56 - PR24 - Part 7 Commentary - Retail
• AFW57 - PR24 - Part 8 Commentary - Developer services
• AFW58 - PR24 - Part 9 Commentary - Long term strategies
• AFW59 - PR24 - Part 10 Commentary - Supplementary tables
• AFW60 - PR24 - Part 12 Commentary - Past delivery
• AFW61 - Additional information request Energy Commentary
• AFW85 - PR24 - Part 11 Commentary - Summary tables

Data tables

• AFW63 - Additional information request - energy costs
• AFW82 - Affinity Water PR24 data tables

Financial models

• AFW35 - Bill calculations model (Long-Term Delivery Strategies bill projection)
• AFW64 - Ofwat financial model
• AFW65 - Waterfall model
• AFW66 - RORE model
• AFW67 - Revenue forecasting incentive (RFI)
• AFW68 - Part 1 of 2: Outcome delivery incentive (ODI) performance 2023-24
• AFW68 - Part 2 of 2: Outcome delivery incentive (ODI) performance 2023-24
• AFW69 - Residential retail reconciliation
• AFW70 - PR19 Water trading incentive
• AFW71 - Developer services revenue adjustment mechanism
• AFW72 - Water industry national environment programme (WINEP) reconciliation
• AFW73 - Cost of new debt reconciliation
• AFW74 - Gearing outperformance sharing mechanism
• AFW75 - Cost reconciliations
• AFW76 - Part 1 of 3: Tax Reconciliation
• AFW76 - Part 2 of 3: Tax Reconciliation
• AFW76 - Part 3 of 3: Tax Reconciliation
• AFW77 - Land Sales
• AFW78 - RPI-CPIH Wedge true up model
• AFW79 - Part 1 of 6: Strategic regional water resources reconciliation
• AFW79 - Part 2 of 6: Strategic regional water resources reconciliation
• AFW79 - Part 3 of 6: Strategic regional water resources reconciliation
• AFW79 - Part 4 of 6: Strategic regional water resources reconciliation
• AFW79 - Part 5 of 6: Strategic regional water resources reconciliation
• AFW79 - Part 6 of 6: Strategic regional water resources reconciliation
• AFW80 - RCV Adjustments model
• AFW81 - Revenue adjustments model
• AFW84 - Financial mapping tool

Our business plan 2020 - 2025

• AMP7 Enhancement Expenditure Action Plan (PDF 1.1MB) >
• Board Assurance Statement (PDF 763KB) >
• Draft Determination - Company Response (PDF 1.5MB) >
• Ofwat - Representation Pro-Forma (PDF 54KB) >
• Company response - Delivering outcomes for customers (PDF 3.17 MB) >
• Appendix A (Drought severe restrictions risk calculations) (PDF 126KB) >
• Appendix B (Drought certainty grade calculations) (PDF 127KB) >
• Company response - Cost efficiency (PDF 2MB) >
• Appendix D (Joint Statement) (PDF 734KB) >
• Appendix E (Letter AW to DWI) (PDF 484KB) >
• Appendix F (Guidance to Water Companies Metaldehyde) (PDF 201KB) >
• Appendix G (Metaldehyde and Pesticides Parameters) (PDF 159KB) >
• Company response - Financing and resilience (PDF 1MB) >
• Appendix A (Dividend Policy) (PDF 1.7MB) >
• Appendix B (Executive Pay) (PDF 1.7MB) >
• Appendix C (Verve Bill Profile customer Research) (PDF 2.6MB) >
• Appendix D (Experian Report for Affinity Water Phase 2) (PDF 1.25MB) >
• Appendix F (PAYG and RCV Run off) (PDF 848MB) >
• Data Tables >
• Developer Services Information Request >
• Outcomes Information Request >
• PR19 Split by Opex and Capex >
• Financial Data Tables Assurance Letter (PDF 320KB) >
• Technical Data Tables Assurance Report (PDF 688KB) >
• Data Tables Commentary (PDF 706KB) >
• Financial Model Actual >
• Financial Model Notional >
• Revenue Adjustments Feeder Model >
• WRFIM Feeder Model >
• Mapping Tool >

Revised Business Plan for 2020 to 2025

After our Business Plan for 2020 to 2025 was submitted to Ofwat in September 2018 after a review from Ofwat we received feedback from them in January 2019. We have carefully listened to Ofwat’s feedback and improved our September plan in a range of specific areas to deliver even more for our customers and communities.

We are going to do more for less, by:

• Reducing the average household bill. We now plan to reduce our average bill by 1.6% in real terms by 2025 compared to an increase of 2.1% in our September Plan;
• Stretching ourselves further through our commitments, including on leakage where we have increased our reduction target from 15% to 18.5% (equivalent to 30 Ml/d);
• Adding additional commitments that are dedicated to supporting customers in vulnerable circumstances, and those who will benefit from our Priority Services Register.

All the detail is included in our Revised Plan below.

• Revised Plan Executive Summary >
• Revised Plan Supplemental Board Assurance Statement >
• Revised Plan Guidance Note >
• Action Tracker >
• Customer Challenge Group Report >
• Engaging Customers Evidence Document >
• Engaging Customers Appendices >
• Addressing Vulnerability & Affordability Evidence Document >
• Addressing Vulnerability & Affordability Appendices >
• Delivering Outcomes for Customers Evidence Document >
• Delivering Outcomes for Customers Appendices >
• Securing Long Term Resilience Evidence Document >
• Securing Long Term Resilience Appendices >
• Targeted Controls, Markets and Innovation Evidence Document >
• Targeted Controls, Markets and Innovation Appendices >
• Securing Cost Efficiency Evidence Document >
• Securing Cost Efficiency Appendices >
• Aligning Risk and Return Evidence Document >
• Aligning Risk and Return Appendices >
• Accounting for Past Delivery Evidence Document >
• Accounting for Past Delivery Appendices >
• Securing Confidence and Assurance Evidence Document >
• Securing Confidence and Assurance Appendices >
• Data Tables (Tables APP21 and WR7 fully redacted as they are commercially sensitive) >
• Data Table Commentary >

Business plan for 2020 to 2025

Our Business Plan 2020 to 2025 (PDF 20.7MB) Our Business Plan 2020 to 2025 Executive Summary (PDF 1.1MB) Our Business Plan 2020 to 2025 Board Assurance Statement (PDF 1.8MB)

Ofwat pro forma

Business Plan Presentation Pro-forma (PDF 3.4MB) Business Plan Presentation Guidance Tables (XLSX 127KB) Bill Waterfall Model (XLSM 321KB)

Financial model

Affinity Water Ofwat Financial Model (XLSB 8.8MB)

PR19 data tables

PR19 Data Tables (XLSB 5.1MB) PR19 Data Table Commentaries (PDF 3.6MB)

Appendix 1 - Business Plan Glossary (PDF 390KB) Appendix A - Guidance Note (PDF 642KB) Appendix B - WISER Report (PDF 829KB) Appendix 2 - Our Track Record (PDF 1.7MB) Appendix 3 – Listening to Customers and Stakeholders (PDF 44.3MB) Appendix 4 – Our Outcomes and Performance Commitments (PDF 9.7MB) Appendix 5 – Trading Procurement Code and Bid Assessment Framework (PDF 1.6MB) Appendix 6 – Wholesale Technical Support Document (PDF 14.5MB) Appendix 7 – Delivering Great Customer Service (PDF 3MB) Appendix 8 – Our Community Approach (PDF 1.8MB) Appendix 9 – Ensuring Long Term Resilience (PDF 5.5MB) Appendix 10 – Ensuring Affordability and Financeability (PDF 11.3MB) Appendix 11 – Governance and Assurance (PDF 4.7MB)

Our business plan 2015 - 2020

Business plan for 2015 to 2020

Business Plan (PDF 3MB) Business Plan Consultation (PDF 1.2MB) Business Plan Summary Brochure (PDF 1.2MB) Draft Determinations (PDF 209KB) CSG Response to OFWAT (PDF 63KB) Recalibrated Incentives and Board Assurance Statement Risk and Reward submission (PDF 3.1MB)

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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