UK Water 2023 | Moody's Investors Service | 16 October 2023 | Plaisterers' Hall, One London Wall, 1 London Wall, Barbican, London EC2Y 5JU, UK

The UK water sector remains firmly in the spotlight. Water companies have said ‘sorry’ after discharging sewage into rivers for nearly 1.8 million hours in 2022 and proposed £10 billion investment this decade to help reduce spills with “modest increases in bills”. Government responded that companies should put consumers above profits and said households should not bear the investment burden. Resources attract fewer headlines but the UK had its hottest ever summer in 2022 and the Environment Agency says that there will not be enough water to match demand in 20 years, unless change is made. The government’s new Plan for Water promises a clean water environment and a secure and plentiful supply but this will come at a price. Investment simply to reduce storm overflows is estimated at £56 billion over 25 years. Companies that fall short face growing regulatory sanctions and potentially unlimited fines.

Join Moody’s analysts and leading figures from Ofwat, South West Water and Thames Water to discuss:

• Legitimacy and social licence
• Delivering investment in a cost-of-living crisis
• If policy and regulation must change
• How the UK compares to other countries