You can find more on the Government Support Package in the, Track visitor behaviour, including how visitors arrive on our website, Distinguish between visitors, and their sessions. Also, under the Revenue Agreement Thames Water will collect from its wastewater customers the revenue Tideway is entitled to under its licence. Company number: 09553573 Registered in England and Wales, Tideway’s response to the Covid-19 outbreak. The Licence sets out Tideway’s principal duties, other obligations and the building blocks for Tideway’s revenue prior to 2030. You can find more about the our Licence and other regulatory documents, The Government Support Package is composed of the following documents: the Supplemental Compensation Agreement, the Contingent Equity Support Agreement, the Market Disruption Facility Agreement, the Special Administration Offer Agreement, the Discontinuation Agreement, and the Shareholders’ Direct Agreement. Finally, an alliance has been created between Tideway, the three Main Works Contractors, the System Integrator, and Thames Water with the aim to ensure co-operation between all delivery stakeholders. The cost of the project is being paid for by Thames Water’s 15 million wastewater customers through their bills. journalists in 50+ countries covering politics, business, innovation, trends and more. 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This week Ofwat confirmed that Bazalgette Tunnel Ltd, a special purpose investment vehicle funding by a number of institutional investors, has been awarded a regulated utility license. After a career break, how do I get into the environmental sector? The Government Support Package is composed of the following documents: the Supplemental Compensation Agreement, the Contingent Equity Support Agreement, the Market Disruption Facility Agreement, the Special Administration Offer Agreement, the Discontinuation Agreement, and the Shareholders’ Direct Agreement. The budget for the scheme steadily increased since it was first estimated. Latest News and Updates Tideway launches 'Tunnel Vision' – a new YouTube series about the project Our website uses cookies provided by Google Analytics to: Read the latest update on Tideway’s response to Covid-19. For example, the budget in 2004 was estimated at £1.7bn, which included the East Ham to Stratford part and sewage treatment works upgrade costs. The tunnel will cost £3.8bn to complete, and an additional £1.1bn has already been spent by Thames Water for preparatory works. The split of works as between Tideway and Thames Water during the construction and operation periods will be governed by the Interface Agreement and Operation and Maintenance Agreement respectively. Gain a global perspective on Australia and beyond with curated news and analysis from 600 We consider whether the innovative Thames Tideway Tunnel funding model shows the way for the delivery of other projects. The commercial relationship with the three consortia that will deliver the bulk of the tunnel will be managed via NEC3 contracts. Company Name & Registered Office: Bazalgette Tunnel Limited, Cottons Centre, Cottons Lane, London SE1 2QG. In the words of the Consumer Council for Water in 2011: The Licence sets out Tideway’s principal duties, other obligations and the building blocks for Tideway’s revenue prior to 2030. Thames Tideway – a new era for privately financed infrastructure Construction industry veteran Sir Neville Simms was appointed as non-executive chairman of Thames Tideway Tunnel Limited, the new infrastructure operating company set up to build, operate and own the proposed Thames Tideway Tunnel in London, last December. The 25km Thames Tideway Tunnel will be financed and delivered by and independent infrastructure provider, regulated by Ofwat, rather than by Thames Water itself. Due to the nature of the Thames Tideway Tunnel, Thames Water will be a key delivery partner to Tideway. 28 September 2016 This article was first published in the September 2016 edition of New Civil Engineer journal. The PMC Contract sets out the commercial relationship between Tideway as Client and CH2M as Project Manager. Finally, an alliance has been created between Tideway, the three Main Works Contractors, the System Integrator, and Thames Water with the aim to ensure co-operation between all delivery stakeholders. To view the Privacy Policy, click here. Tideway’s delivery model is underpinned by arrangements with different stakeholders. You can find more on the Government Support Package in the Document Library under Licence Award Documents. You can find more about the our Licence and other regulatory documents here. You may disable these by changing your browser settings, but this may affect how the website functions. These arrangements are key to make Tideway’s risk profile similar to that of an established UK regulated water company. This relationship is regulated by the Alliance Agreement. Brexit raised concerns about the future funding of infrastructure. We’re building a 25km Super Sewer under the Thames to intercept those nasty spills and clean up our river for the good of the city, its wildlife and you. Additionally, Tideway has procured a contingent support package from DEFRA who acts as insurer of last resort for extreme risks that cannot be efficiently insured by the insurance market (see Government Support Package). The commercial relationship with the three consortia that will deliver the bulk of the tunnel will be managed via NEC3 contracts. Meanwhile, a group of investors including Allianz, Dalmore … Thames Water will pay for £1.4bn of pipes linking the existing sewage network to the tunnel. 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Thames Water customers will pay for the tunnel through their water and sewerage bills, and Thames Water customers can expect their bills … Tideway has procured a comprehensive set of insurance policies in line with market’s best practice.