Price Control Support for Thames Water, UK

Capabilities Deployed
  • Governance, Audit and Assurance
  • Information Intelligence
  • Investment Decision Making
  • Performance Management
  • Programme Delivery
  • Regulatory Support
  • Risk and Asset Management
  • Strategic Business Planning
Capabilities Deployed
  • Governance, Audit and Assurance
  • Information Intelligence
  • Investment Decision Making
  • Performance Management
  • Programme Delivery
  • Regulatory Support
  • Risk and Asset Management
  • Strategic Business Planning

Providing programme management support and a wide-range of technical input to Thames Water for different Price Controls 

Situation and challenge 

Thames Water received a tough determination in PR09 and wanted to significantly improve its’ submission for PR14 and hence the outcome of the determination. This required a better understanding of their existing capabilities; forecasting of the future regulatory requirements; development of a regulatory strategy; and to then implement a programme of work to manage the required change and to deliver a high-quality submission.  

The Price Control had a value of over £20bn and the potential for positively impacting the outcome was significant.  

Value we brought 

Our input was extensive and covered the whole end-to-end process from the initial assessment through final submission and even to delivery planning for the next regulatory period.  

We, firstly undertook a review of the previous Price Control submission; Thames Water’s existing capabilities and comparative performance; and the complex regulatory landscape. From this, we developed a regulatory strategy, a business case and a programme of work for the next three years. 

We were asked to manage the programme of work and provide technical support in many areas. As such we led a team of over 150 staff members and consultants to ensure the successful transformation and submission of this project. We established a PMO and appointed a number of project managers to ensure delivery of the many inter-dependent workstreams. 

We supported the change elements of the programme, implementing a new planning process and organisational structure, asset risk management, a Service Measure Framework, asset and service strategies, and system upgrades.  

We also provided technical support to nearly all areas of the Price Control, notably financial analysis, stakeholder management, customer surveys, economic analysis, asset planning, costing, asset valuation, and business case development. 

We managed the development and alignment of the submission documents and data tables, with story-lining, and the development of compelling investment case. We implemented a robust review and quality assurance processes to ensure the accuracy, coherence, and persuasiveness of the submission documents, and manged the internal and external stakeholders through the process.  

Our work continued through the regulatory process, providing support with delivery planning, embedding the new processes and transferring knowledge.  

Outcome 

Our leadership and strategic guidance were instrumental in the successful development and submission of Thames Water's PR14 Price Control. By leveraging a multi-disciplinary team and adopting a systematic approach, Thames Water was able to navigate regulatory complexities, engage stakeholders effectively, and secure regulatory approval for its investment plan. The final determination was considered a success and met the initial budgetary targets. 

Moving forward, Thames Water is well-positioned to deliver on its commitments and business objectives. As a result, we were asked to provide similar support for the PR19 Price Control.  

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