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What do the companies have to do?
The companies have to provide the following:
- Strategic Direction Statements
- The strategic direction statement should set out for consumers, regulators and other stakeholders the direction of travel over the long term – say 25 years hence. It is an opportunity to set out the company vision clearly and show how it delivers for consumers and the environment.
- The statement should include at least the following:
- plans to deliver for consumers and the environment in the long term (i.e. at least 25 years ahead) including clean and safe drinking water and reference to the Water Sector Plan;
- the impact this has on, among other things, the management and stewardship of assets, and innovation;
- the approach to issues such as climate change and sustainability;
- consumers' priorities;
- the objectives of the long term charging strategy, how it is planned to achieve this and the implications for bills; the major risks and how these will be managed;
how the strategy will be financed- Draft business plans (as detailed below but in draft form for discussion)
- Final business plans
- Each appointed water company's business plan sets out:
- Its overall strategy and the implications for price limits and average bills
- Its strategic objectives in terms of service performance, quality, environmental and other outputs
- The activities necessary in the period to meet these objectives
- The scope for improvements in efficiency
- Monitoring plans
- Each appointed water company prepares a monitoring plan following its acceptance of our final determination of price limits. It sets out the company's commitment to delivering the required levels of drinking water and environmental quality outputs and standards of service consistent with the price limits. It also summarises the company's planned maintenance activities, which put the delivery plan into context.
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