Fixing Thames Water for good
Thames Water needs an ambitious turnaround plan and improvement framework to get it back on track for its 16 million customers across London, Thames Valley and the Home Counties.
As part of a proposal to recapitalise and stabilise Thames Water, London & Valley Water is finalising a Performance Improvement and Turnaround Plan that will spend £20.5bn over the next five years to improve operational performance, invest in aging infrastructure, fix the root causes of Thames Water’s problems, rebuild customer trust and improve environmental performance and customer service as quickly as possible.
Fixing the fundamentals and delivering customer priorities
The Performance Improvement and Turnaround Plan would deliver a root and branch transformation of the business and new investment focused on delivering what matters most for customers, prioritising public health and safety risks.
Delivery of this plan will be led by a new, world-class Board and strengthened management team. This leadership team will be held accountable for a long-term plan to reduce sewage spills and water leakage, clean up waterways, deliver a step-change in customer service and strengthen business resilience in the face of extreme weather events and population growth.
Supporting local communities and driving economic growth
Under the plan, the whole business - from the Board to the frontline - will be driven by the central goal of achieving a performance improvement and turnaround that delivers value for customers, the environment and the communities Thames Water serves.
Thames Water’s assets will be restored, debt will be written off and operational performance improved with the aim of rebuilding the business and returning it to the public markets as soon as possible. This proposed plan will ensure customers, employees and the public at large can share in the long-term value that will be created by a successful turnaround.
The proposed Performance Improvement and Turnaround Plan would invest in improving capacity across sewage treatment works to support regional growth through new housing development, and will always prioritise the delivery of high-quality, safe drinking water by installing the latest cutting-edge technology at all major treatment works.
The London & Valley Water proposal is still subject to ongoing discussion, with the aim of progressing to reach an agreement in the Autumn which will help stabilise Thames Water and deliver for customers and the environment in the long-term.
Who we are
London & Valley Water is a consortium of international and UK investors with a proven track record in infrastructure and include major UK and international pension and insurance funds, asset managers and investment funds. They have come together to restructure and rebuild a stronger Thames Water with a market-led solution that avoids the need for any taxpayer funding.
Contact
For enquiries and questions about London & Valley Water and our plan to fix Thames Water, please get in touch at: