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Thames Water: PR24 Update Submitted

UTILITIES
  • Thames Water confirms submission of it’s updated PR24 business plan.
  • Contrary to reports on Friday of further hikes a 40% proposed increase to bills remains.
  • The main difference seems to be an extra £1.1bn spending on environmental measures funded by cost savings.
  • Another potential £1.9bn of spending would come under a ““Deliverability Assessment Mechanism” which would result in bill increases.
  • While an improvement on the previous submission the 40% proposal is likely to remain unpalatable to Ofwat.

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