The water industry regulator Ofwat has this morning (Friday, August 29) announced its draft decisions on what it believes water companies should be able to charge customers from 2015 to 2020. This is ahead of its final decisions in December.
Below is a statement from the Consumer Council for Water in response to today’s announcement by the regulator:
Tony Smith, chief executive of the Consumer Council for Water (CCWater), said: “This is good news and reflects that customers are driving water pricing more than ever before. But it should not be seen as job done. We think there is still an opportunity for Ofwat to deliver an even better deal for customers, at a time when one in five households already tell us their water bill is not affordable.”
“Ofwat has announced that the average household bill will fall by about 5 per cent by 2020, but once inflation is added many customers could see their bill increase from what it is now. We believe the regulator could go further and shave even more off bills through tightening up companies’ borrowing costs.”
“Thames Water’s revised plan remains overshadowed by uncertainty around the impact the Thames Tideway Tunnel will have on its sewerage customers’ bills. This could prove a tipping point for many struggling households. We will continue to press Ofwat and the company to minimise what customers have to pay.”