Five more years for Tideway price control

Ofwat is consulting until 8 March on setting a separate price control for 2025-2030 for the work Thames Water carries out on the Thames Tideway Tunnel project.

This would involve modifying Thames Water’s licence, which Thames Water has agreed to, and extending the separate price control for Tideway used at the two previous price reviews.

Ofwat explained: “Between now and 2030, Thames Water's role in the project will increase as the project is tested and brought into operation and surplus land will continue to be sold. For these reasons, we have agreed with Thames Water to extend the separate price control for a further five-year period (from 2025 – 2030) and we are now consulting on our proposal to give effect to that extension.

“When construction is complete and the asset has been tested and accepted by Thames Water, the project will become 'business as usual' for Tideway and for Thames Water. Under its project licence, Tideway will become subject to the normal price review process at the 2030 price review, and we expect that Thames Water's ongoing costs in relation to the project will become part of its Network Plus Wastewater Activities price control at that stage.”