Ofwat Innovation Fund

Published On 20/03/2020

In Time to Act, Now: Driving Transformational Innovation in the Sector, Owfat explains its decision to make up to £200m of additional funding available through an innovation competition for the next regulatory period, which is 2020 to 2025.

Ofwat says it ‘sees innovation as crucial for meeting the profound challenges the sector faces in a cost effective and sustainable way’.

These challenges include the climate crisis, more volatile weather, and population growth.

Untapped opportunities

Ofwat believes there remains significant untapped opportunities for companies to work with each other, with the supply chain and with those in other sectors to trial and adopt transformational practices and technology.

Ofwat says it will work with stakeholders to set up the innovation competition and design its governance.

UKWIR has already provided a detailed response to the OFWAT call and has offered to support Ofwat with its development.

Ofwat has also called for the development of a water industry Innovation Strategy.