Each five-year investment period is designed to help us achieve our longer term vision
Our five-year plan for 2010–15 was focused on improving customer satisfaction, meeting our statutory obligations and delivering shareholder value. This plan was designed to build a platform to enable us to effectively deliver our long-term strategy.
A summary of our key achievements across 2010–15 is shown here.
As we begin the next five-year period to 2020 we are looking to build on our recent achievements, retaining our focus on delivering high levels of service to customers at the lowest sustainable cost, all whilst acting responsibly. This is designed to help us achieve our vision of becoming a leading North West service provider and one of the best UK water and wastewater companies.
Our focus on delivering for our customers includes striving to be a leading company in the areas our regulator benchmarks for the industry, such as on customer satisfaction (SIM). We also assess our performance against other leading organisations in the North West through an independent brand tracker survey.
As detailed in the economic regulation section here, the regulatory environment has evolved for the 2015–20 period, and our key performance indicators are also evolving to reflect this. With the move to a more outcomes based approach, the new outcome delivery incentives (ODIs) are key metrics to assess performance across a wide range of operational measures. In the now separated business retail price control, with the expansion of competition, measuring the impact of customer gains and losses is an important metric.
Metrics for assessing lowest sustainable costs include our outperformance against the new totex model (replacing separate opex and capex models for 2010–15) and financing levels set by Ofwat. With the retail household price control now being separated, we are also introducing a new KPI to measure our costs in this area.
The degree to which our actions are viewed as responsible is taken from performance measures set by the industry regulator, the Environment Agency and those which measure global best practice, as defined by the Dow Jones Sustainability Index.
Our KPI performance for 2010–15 is shown here and further details on our 2015–20 KPIs are shown here.
In addition, executive bonuses and long-term incentives are intrinsically linked to our financial and operational performance and further details are provided in the Remuneration Committee report.
Our focus remains on delivering high levels of service to customers at the lowest sustainable cost, all whilst acting responsibly.