Ofwat, the sector’s economic regulator, has statutory powers to set price and performance limits, which in effect determine each company’s spending priorities. The sector operates within a series of five-year Asset Management Plans (AMPs), AMP5 runs from 2010 to 2015 and AMP6 will run from 2015 to 2020. In 2010 Ofwat stated that they don’t see the benefits of smart metering’ and therefore policy development is concerned with AMP6.