Water sector regulator Ofwat has awarded a contract for a Delivery Partner to work with it on the 2024 Price Review (PR24) worth £8.33 million.

Estimated total value when Ofwat went out to tender for the contract in October 2022 was put at £10 million.

The Price Review will set the maximum revenue that companies can collect from customers as well as the outcomes they will deliver for 2025-2030 period.

Ofwat was looking for a flexible, efficient resourcing solution capable of being adapted to respond to changing requirements throughout the period of the contract. The regulator describes it as an arrangement that brings additional resource into Ofwat that is able to successfully integrate into its internal delivery effort. The majority of work will be collaborative, with Delivery Partner staff working alongside Ofwat staff within multiple policy work-streams.

Pricewaterhouse Coopers LLP (PwC) has been awarded the contract, one of three organisations who submitted tenders for the work. The contract period spans 22 months.