Debt Investors

Our investment programme has increased more than three-fold, from less than £3 billion in AMP1 (the first five-year planning period after the water industry was privatised in 1989) to over £10 billion for AMP8 (2025-2030). Since 2020, we’ve invested £963 million in our capital programme, our highest investment yet, bringing us to £2.7 billion for the AMP to date.

Our Core Businesses

Anglian Water Services

Anglian Water is the largest water and water recycling company in England and Wales by geographic area. We supply water and water recycling services to almost seven million people in the East of England and Hartlepool.

Water is our business. We handle with care and we don’t cost the earth.

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Osprey Financing

Osprey Holdco Limited's primary purpose is to issue and hold debt listed on the London Stock Exchange and other borrowings used to fund the Osprey Acquisitions Limited (OAL) Group (the ‘Group’ headed by OAL), and the wider Anglian Water Group.

Osprey Investco Limited, Osprey Acquisitions Limited and Osprey Acquisitions Limited’s subsidiary, Anglian Water (Osprey) Financing Plc, together comprise AWG’s ‘midco’ financing group.

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Aigrette Financing

Aigrette Financing was incorporated on 12 May 2021, as part of the Anglian Water Group Limited and Anglian Water Services (AWS) capital restructure.

The Anglian Water Group, whose ultimate parent company is Anglian Water Group Limited, operates a three-tier debt structure, referred to as OpCo, MidCo and HoldCo. Aigrette Financing (Issuer) PLC (AFIP) forms parts of the Aigrette Financing Limited (AFL) Group (Group headed up by AFL). The aim of this company is to raise debt and lend it to its parent company in the HoldCo part of the structure in order to maintain a certain net debt to capital ratio (net debt expressed as a percentage of Anglian Water’s regulated capital value). As such the KPI for AFIP is the related net debt to capital ratio.

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Our Investment Proposition

Anglian Water Group's principal business is Anglian Water, the group's regulated water and sewerage company, which supplies water and water recycling services to around seven million customers in the East of England and Hartlepool.  

Anglian Water Services Ltd (Anglian Water) is the largest water and water recycling company in England and Wales by geographic area. From the Broads of Norfolk to the hills of the Lincolnshire Wolds, fast-growing cities to the dramatic Suffolk coastlines, our region is highly diverse. We employ around 6,000 people and many more through our alliances.  

Underpinned by our Purpose, to bring social and environmental prosperity to the region we serve, our position as a supplier of an essential public service presents us with both the opportunity and the responsibility to do more for our region. Water underpins economies and businesses; it impacts the quality of green and blue spaces, and it is a key enabler for growth, particularly in our fast-growing region.  

This is why our investment programme has increased more than three-fold, from less than £3 billion in AMP1 (the first five-year planning period after the water industry was privatised in 1989) to over £10 billion for AMP8 (2025-2030). Since 2020, we’ve invested £963 million in our capital programme, our highest investment yet, bringing us to £2.7 billion for the AMP to date. 

In 2023/24, we saw an increase in our Regulatory Capital Value (RCV) and, our robust financial position was recognised by Ofwat in its 2023 financial resilience report, where we received the highest rating possible.  

In October 2023, we submitted our AMP8 plans to Ofwat, our biggest proposal to date. With over £9 billion earmarked, our plans will see us increase capacity across our water and water recycling assets to accommodate growth and tackle issues such as a flooding, alongside a huge amount of investment towards our zero escapes strategy. £4 billion is proposed to deliver more for the environment, including natured-based solutions and working with partners to improve ecological health. We’re also committed to unlocking sustainable growth in our region, which will see us futureproofing water resources for both today and tomorrow through the delivery of major infrastructure projects, such as our strategic pipeline, alongside two new reservoirs.

Our plan 2025 - 2030

Anglian Water will deliver a plan worth £10 billion in the East of England. It was created in consultation with our customers, and it balances ambition and affordability.

Since the submission of our PR24 business plan to Ofwat in October 2023, discussions have continued with Ofwat, the Environment Agency and Defra around the shape and scale of our plan.

Following these discussions, we have made an increase to our totex so that the total expenditure is now of £9,521.892 billion, an increase of £217 million . The average annual customer bill is now £573.06 by 2030, up from £571.34 in our October 2023 plan. Ofwat's draft determinations have been based on this updated expenditure and these bills.

Ofwat published its Draft Determination on our plan in early July and we responded at the end of August. You can read our PR24 reps here.

We then expect to receive the Final Determination from Ofwat on 19 December.

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