Michael Phelps of the US is seen during training at the 14th FINA World Championships in Shanghai July 21, 2011.[Photo/Agencies]

SHANGHAI - Michael Phelps is anguished no more. After a frustrating year marked by losses, lack of motivation and fitness, and indecision about his future in the pool, the 14-time Olympic champion says he's excited and happy to be in the water.

Phelps says he feels like his old self again and has regained the confidence he was lacking last year.

He'll certainly need it at the world championships, an eight-day meet that will serve as the next-to-last chapter in his storied career. The finale will be written at next year's London Olympics.

Phelps plans to swim seven events - the 200 free, 100 and 200 butterflys and the 200 individual medley, along with all three relays.