Increasing the proportion of metered homes from 30 per cent to 56 per cent by 2020 is one of Thames Water’s targets as it invites customers to comment on its draft business plan for the next price review period beginning 2015.

Thames plans to install 500,000 meters across its region during the period 2015-2020 and expect 78 per cent of properties to be metered by 2040. Meters installed will be ‘smart’, giving customers more ways to monitor how much they are using. Thames said it will trial new price bands with the meters, which could help reduce demand for water.

Other targets outlined by the water company in its draft plan include reducing leakage to 620 million litres per day, from a current level of 665Ml/day, and achieving 100 per cent compliance with UK and European drinking water quality standards.

It will also aim to reduce average water consumption per capita from 161 litres per day to 153 as well as removing 2,100 homes from the risk of sewer flooding.

As measures to ensure security of water supply, Thames said it will conduct research into wastewater recycling over the five-year period, as well as looking at proposals for a new storage reservoir and transfer schemes to bring water from other parts of the country.

Richard Aylard, Sustainability Director at Thames, said the five year-plan encompassed everything the firm does but flagged up affordability as the priority.

"There's a plan there about people in cities, towns and country areas, there's a balance between clean water and the sewage service and it's all about keeping bills affordable, but without storing up problems for the future,” he said.

"Affordability is a real priority, but it's where the improvements are required that customer views come in.

"Things like protecting homes from sewer flooding, reducing the level of leakage and installing more meters. These are the things we want to ask customers about."

Thames envisages that with spending on improvements over the five-year period, the average customer bill will be about £370 in 2020. However, this does not take inflation nor the costs for the Thames Tideway Tunnel into account as Thames is unsure of their impacts. It has been estimated that the Tunnel project will add up to £80 onto a wastewater bill in the 2020s as the project nears its completion.

The water company is encouraging all of its customers to give their opinions on the company’s plans for the future. An eight week consultation began on 1 May 2013, closing on 25 June. The final plan will be submitted to the regulator Ofwat in December in preparation for the price review PR14.

You can find the draft plan here