Tideway’s delivery model is underpinned by arrangements with different stakeholders.
These arrangements are key to make Tideway’s risk profile similar to that of an established UK regulated water company.
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 here.
Due to the nature of the Thames Tideway Tunnel, Thames Water will be a key delivery partner to Tideway. 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. Also, under the Revenue Agreement Thames Water will collect from its wastewater customers the revenue Tideway is entitled to under its licence.
The PMC Contract sets out the commercial relationship between Tideway as Client and CH2M as Project Manager.
*Please note ch2m is now part of Jacobs.
Tideway has procured a comprehensive set of insurance policies in line with market’s best practice. 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. 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. This relationship is regulated by the Alliance Agreement.
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. You can find more on the Government Support Package in the Document Library under Licence Award Documents.