Reservoirs need an Olympic Delivery Authority equivalent

The Purposeful Finance Commission (PFC) has called for an Olympic-style national champion for reservoirs and for new powers for regional mayors to progress water resource infrastructure. 

In a report, Reservoir underdogs, the regeneration and investment specialist said a long-term champion agency for reservoirs, with a clear remit to ensure reservoir construction keeps pace with consumer demand and aligns with large-scale housing and other development projects, is needed – or else bills will rise unnecessarily and housing targets be missed.

According to the report, the Olympic-style agency needs statutory powers to lead delivery, formal authority over planning applications, and the ability to borrow and lend for reservoir construction. It should also be empowered to sign off water company investment in reservoirs whenever needed, building more flexibility into the current rigid system of spending plans agreed only every five years.

It further called for mayors to be able to fast-track smaller reservoir planning applications by deeming them Regionally Significant Infrastructure Projects.

Referring to the Olympic Delivery Authority that prepared for the 2012 London Olympics, Tracy Blackwell, chief executive of Pension Insurance Corporation and chair of the PFC, said: “This precedent shows that a similarly empowered delivery agency adapted for the water sector could unlock the reservoirs England now urgently needs, by aligning regulation, planning, investment, and support for housing growth in one strategic framework.”

The Commission welcomed plans to create a single water regulator, but argued a dedicated reservoir focus is needed. John Long, director of Igloo Regeneration and a PFC commissioner, said: “The Government’s recent announcement to bring the regulators together into one singular body is a major step forward. It could finally deliver the clearer leadership and joined-up approach the sector has been missing, and is important for meeting its target of delivering 1.5m new homes over this Parliament. But to be effective, this new body must be given the statutory powers needed to drive reservoir projects through planning and delivery.”

The PFC and its advisory board is an independent body made up of leading combined authority figures, local government leads, investors and other regeneration experts who have come together to identify, understand and overcome the barriers to the development of housing and infrastructure across the country.