Price Review 2024
About PR24
The 2024 ‘Price Review’ for water companies in England and Wales is a process led by Ofwat to determine prices for the period 2025-2030. As part of this process all companies were required to work with their customers to produce a business plan for 2025-2030 setting out what they intend to deliver for customers and the environment. South West Water submitted its five-year business plan to Ofwat on 2 October 2023, with an overall customer acceptability of the plan of 74% across all of our regions.
To view these documents and for more information click here.
Investing more than ever before
In developing our plan we have directly engaged with over 30,000 customers through a process started over two years ago. Our plan proposes capital investment of £2.8bn to 2030, with 90% of this investment required to meet legal and regulatory requirements. The remaining 10% is a combination of prioritisation based on customer preference (for example prioritising beaches in our region) and or in delivering sustainable solutions to protect the environment. That said, we have consulted with customers on 100% of the plan and have strong customer support for the four priority areas.
This plan represents a doubling of our investment in the region, and we have worked to keep bill increases to a minimum. Thanks to our relentless focus on delivering efficiently, the majority of our customers will be paying the same for their water services at the end of 2030 as they did in 2020, yet with vastly improved services, and with us having fixed the issues putting the sector in the spotlight today.
The four priorities of our plan
- Water quality and resilience - In the face of changing weather patterns and a growing population, we are determined to continue to transform how we protect and secure water resources with unrivalled water quality across the region that will last for generations
- Storm overflows and pollutions - By 2030, a full decade ahead of governmental mandates, we pledge to have tackled the use of storm overflows at our bathing and shellfish waters. Our approach blends nature-based and engineering solutions, coupled with comprehensive water monitoring and sampling programme, to rebuild trust in our communities.
- Net zero and environmental gains - By 2030, we're committed to achieving Net Zero, proving our dedication to minimising our impact on the planet. We'll invest in climate-independent water sources, water reuse, and enhanced transfer networks. We'll repurpose brown field sites, build new reservoirs, and amplify our water resources significantly.
- Addressing affordability and delivering for customers - We're tackling monumental industry challenges, and we're delivering on our promises, all rooted in what our customers deem important. We recognise that some customers face affordability challenges due to the cost-of-living crisis, so our plan incorporates multiple solutions and extensive assistance.
Draft Determination
On 11 July 2024, Ofwat published Draft Determinations for South West Water and SES Water. The RNS can be accessed here.
Final Determination
On 19 December 2024, Ofwat published Final Determinations for South West Water and SES Water. The RNS can be accessed here.
Investor Summary
An updated investor document summarising the key metrics following Ofwat’s Final Determination can be accessed here
An investor document summarising the key metrics from South West Water’s Business Plan for the period 2025-2030 can be accessed here.
Price Review 2019 (PR19)
Please click here to access our Price Review 2019 page for the price review period 2020-2025.
