Ofwat ‘Introduction to the guidance At PR19 Ofwat announced a £469 million ring-fenced development fund for companies to investigate and develop strategic water resource solutions that benefit customers, protect and enhance the environment and benefit wider society. This funding provides companies with the ability and certainty to accelerate the development of solutions to be ‘construction ready’ for the 2025-2030 period; it encourages joint working, enables additional analysis where required and provides outputs with greater certainty than would be available without it. Delivery of these solutions is subject to a formal gated process where decisions are made on delivery penalties and solution funding progression. The details of gate allowances, activities at each gate and delivery incentives are described in more detail in PR19 final determinations: Strategic regional water resource solutions. The Regulator’s Alliance for Progressing Infrastructure Development (RAPID) supports and oversees the development of the solutions that benefit from this funding. RAPID’s role in the gated process (working with the partner regulators, the Consumer Council for Water (CCW), Natural England and Natural Resources Wales) is to assess the progress made in development of each solution and to provide advice and recommendations to Ofwat to enable Ofwat to make decisions on continued ring-fenced funding for solution progression
February 17, 2022