The trade association told Utility Week it is heading up the group which will inform the industry which infrastructure projects will be required over the next 40 years and what needs to be done to attract the investment to finance them.
The taskforce is in the initial scoping stages and said it will include the water companies, government bodies, and the regulators. It will work through until March 2017.
Water UK head of corporate affairs Neil Dhot said it will address how the water companies need to prepare for the “big risks on the horizon”, including the impacts of climate change and a growing population.
He added that establishing the issues faced by in the coming decades and how the industry will deal with them is “crucial” to ensure investors will continue to be attracted to the UK water sector.
Dhot said: “There are big question marks over whether the sewerage systems are fit for the 21st century.
“There is work to be done to understand as best as we can and predict what kind of problems we are going to face in the future.
“This project is about finding the answer to the difficult questions. What we ultimately want to decide is what investment we are going to need and what we are going to invest in.”