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P R E S E N T S I N A S S O C I A T I O N W I T H par cular our adop on of systems thinking as a long-term strategy." REGULATORY PRESSURE While Chadwick admits AMP7 will require water companies to meet some ambi ous commitments, UU is approaching the challenge head on. In January, it was one of just three companies praised by Ofwat for se ng a "new standard" in their individual business plans for PR19. Alongside Severn Trent and South West Water, UU was placed in "fast track" and given the green light to begin delivering its plans for customers. Despite this posi ve feedback from Ofwat, is the company confi dent that the current regulatory model facilitates the level of innova on required from water u li es to meet the long-term challenges facing the sector? "The regulatory model isn't sta c," Chadwick says. "It has evolved at each and every price review. If you look at the changes made at both the 2014 and 2019 price reviews, these have made a big diff erence in encouraging companies to be more innova ve, shi ing the focus from output-based regula on to outcome-based regula on. "The regulatory regime allows a lot of fl exibility to adapt to diff erent situa ons and changing circumstances and there are plenty of opportuni es le for companies to challenge themselves to use it." While UU is already well-placed to deliver against the challenges set out in PR19, it remains to be seen whether other u li es across the country with varying assets and fi nancial pressures will be able to perform within regulatory constraints while also con nuing to drive valuable innova on. This is an abridged version of the research. For a full copy of this report and to register for U lity Week Live, which takes place on May 21-22 in Birmingham, visit: www.u lityweeklive.co.uk WATER INDUSTRY NATIONAL ENVIRONMENT PROGRAMME (WINEP) Winep iden fi es the environmental measures that companies should include in their business plans. However, this also presents an opportunity for the industry to develop innova ve approaches that will benefi t customers, communi es, the environment and natural capital. The programme consists of statutory and non-statutory measures, which may include inves ga ons, monitoring, op ons appraisals or schemes to improve and protect the water environment. The £5 billion investment by water companies up to 2025 will: Protect and improve at least 6,000km of waters across England Protect and improve 24 bathing waters and 10 shellfi sh sites Protect and improve 1,800 hectares of protected nature conserva on sites Enhance nearly 900km of river and 4,276 hectares through wider biodiversity improvements AMP7 is going to be stretching for the sector, but we were always clear that the 2019 price review would be about delivering more for less II 14 WET NEWS APRIL 2019 | wwtonline.co.uk

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