Ofwat, the Water Services Regulation Authority, has proposed that water companies invest an extra £12bn over the course of AMP7 and cut bills by an average of 12.7%, in its draft determinations for PR19.

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AMP7, the seventh Asset Management Period planned by the UK water industry, is due to run from 2020 to 2025. All the major water companies are now nearing the final stages of their business plans, which are vital in meeting industry regulator Ofwat’s requirements once the new 5-year AMP period begins.