PR24 business plans propose doubling spend to almost £100bn

Water companies across England and Wales will today propose an unprecedented £96bn of investment for 2025-30 in their PR24 business plans – near double the current five-year level.

The bumper spend included £11bn to cut storm overflow discharges by more than 140,000 each year by the end of the decade. Water UK said other key elements of spend involved phosphorus removal at sewage works; cutting leakage by over a quarter; and progressing the development of ten new reservoirs.

The trade body said the bumper spend would add £7 per month to the average bill by 2025, compared with today, rising to £13 per month in 2030. To soften the blow for struggling households, companies will more than double the number of households who receive affordability support, providing help to a total 3.2m homes by 2030 up from 1.2m today.

Ofwat said it supported a step change in performance and investment in the sector to drive improvements for the environment and customers, and that it would subject the company plans to forensic scrutiny, including to ensure bills are fair and that “customers will only pay for future investment, not past company mistakes”.

Companies will each hold an open session for customer comment, the dates for which are listed HERE.