Asset renewal is still a strong theme for Thames Water and it has huge investment plans for 2010-2015.
Its draft business plan says it wants to spend £6.5bn including a massive £1.3bn on building the River Lee tunnel as part of the £10bn Thames Tideway scheme. This is a project it is being asked to deliver by the government to upgrade London’s sewer system.
Thames Water is also looking at starting construction on its new reservoir near Abingdon during the next AMP period subject to planning permission. This has been planned to meet demand for a predicted 380,000 growth in the region’s population by 2015. Added to that 2,500km of aging, leaky water mains are to be replaced by 2015 and 4,700 homes are to be protected from risk of sewer flooding by 1 in 30 year storms.
It’s a huge programme and the company is pledging to reduce its carbon emissions by 20% (compared to 1990 levels) by the end of the AMP5 period. Average customer bills are predicted to be less than £1 a day, rising from £303 in 2010 to Ł329 in 2015.
"Thames' customers have enjoyed the lowest bills in the industry for many years, but we now need to make essential investment to secure their services for the future," says Thames Water chief executive officer David Owens.
"The plan focuses on maintaining and improving the service we provide to our customers; it will help guarantee their supplies for the future."