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Independent Monitor - Thames Water

O F W A T

This public procurement record has 4 releases in its history.

TenderUpdate

04 Sep 2026 at 15:58

UK4 - Tender Notice
TenderUpdate

28 Aug 2026 at 15:15

UK4 - Tender Notice
TenderUpdate

14 Aug 2026 at 17:01

UK4 - Tender Notice
Tender

31 Jul 2026 at 19:24

UK4 - Tender Notice
Summary of the contracting process

The Water Services Regulation Authority (Ofwat) is procuring an independent monitoring service for Thames Water. The appointed monitor will provide independent analysis, evidence, reporting, recommendations and advice to Ofwat on Thames Water’s turnaround programme, financial resilience and compliance with regulatory undertakings following a breach of licence condition P26. The work covers governance, operational performance, transformation programmes, regulatory submissions, capital delivery, asset management and delivery confidence, with material risks, emerging concerns and progress against the turnaround plan identified and reported. The monitor will operate independently of Thames Water, while the company will meet the service costs. This is a business and management consultancy service, classified under CPV 79000000, delivered across England and Wales. Ofwat is the buyer and will use the service for regulatory oversight and decision-making.

The procurement has reached tender: Ofwat invited offers through an open competitive flexible procedure under the Procurement Act 2023. Clarification questions were due by 24 August 2026 at 12:00, and tenders were due electronically through the myTenders portal by 11 September 2026 at 17:00. Ofwat intends to shortlist up to four bidders for presentations and interviews before selecting the highest-scoring bidder; the award decision is due by 21 October 2026. The single contract is scheduled to run from 5 November 2026 to 31 July 2030, with an optional one-year extension to 31 July 2031. Its estimated value is £13 million excluding VAT and £15.6 million including VAT. Evaluation is weighted 50% written quality, 10% presentation and interview, 10% social value and 30% price. Bidders need average annual turnover of at least £5 million across their two most recently completed financial years.

This opportunity suits established consultancy, assurance, regulatory, financial, operational performance and transformation specialists able to provide independent oversight of a large, complex regulated water company. Strong bidders will need to understand the requirements, set out a credible monitoring methodology and demonstrate relevant experience, organisational capability and a delivery team able to assess governance, operational performance, financial resilience, regulatory compliance, capital delivery and asset management. The service must be scalable and proportionate, adapting its scope and intensity as Thames Water’s financial position, recapitalisation, restructuring, turnaround programme, risks and regulatory priorities change. Suppliers must have the legal capacity and governance arrangements to perform the contract, comply with applicable legal and regulatory requirements, and address UK GDPR and Data Protection Act 2018 obligations where applicable. The opportunity is identified as suitable for SMEs and voluntary, community or social enterprises, provided they can meet the participation requirements.

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Notice Information

Notice Title

Independent Monitor - Thames Water

Notice Description

Ofwat is procuring an Independent Monitor (IM) to provide independent monitoring, analysis and reporting in relation to Thames Water's turnaround programme, financial resilience and compliance with undertakings accepted by Ofwat following a breach of licence condition P26. The IM will support Ofwat's Turnaround Oversight Regime by monitoring and assessing Thames Water's progress in delivering its turnaround plan and complying with regulatory commitments. The IM will provide independent oversight of governance, operational performance, financial resilience, transformation activities and delivery confidence, and identify and report material risks, issues and emerging concerns to Ofwat. The IM will undertake monitoring and reporting services across a broad range of functions, including operational performance, financial resilience, governance, transformation programmes, regulatory submissions, capital delivery and asset management. The IM will report regularly to Ofwat and provide independent evidence and analysis to support regulatory oversight and decision-making. The role is expected to operate in a dynamic and evolving environment. The nature, scope and intensity of the IM's activities may increase or decrease during the contract term to reflect Thames Water's progress, risk profile, recapitalisation activities, regulatory developments and wider turnaround programme. The contract has therefore been designed to support a scalable and proportionate monitoring approach. The IM will be appointed by Ofwat, will act independently of Thames Water, and will provide recommendations and advice to Ofwat only. The costs of the independent monitor will be met by the Company, and will not impact on customer bills.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06d965
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/084033-2026
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
UK4 - Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Competitive flexible procedure
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79000000 - Business services: law, marketing, consulting, recruitment, printing and security

Notice Value(s)

Tender Value
£13,000,000 £10M-£100M
Lots Value
£13,000,000 £10M-£100M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
4 Sep 20262 weeks ago
Submission Deadline
11 Sep 2026Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
5 Nov 2026 - 31 Jul 2030 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Active
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
O F W A T
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRMINGHAM
Postcode
B5 4UA
Postcode Area
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
TLC North East (England), TLD North West (England), TLE Yorkshire and The Humber, TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLI London, TLJ South East (England), TLK South West (England), TLL Wales
Local Authority
Birmingham
Electoral Ward
Ladywood
Westminster Constituency
Birmingham Ladywood

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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