11 August 2008
Water suppliers in England and Wales are to submit their pricing plans for 2010 and the five years following to the industry regulator Ofwat. Consumers will soon find out how high their water bills are likely to rise at a time when other bills - most notably gas and electricity - have risen sharply. Each supplier will set out details of their investment strategy and the price increases needed to improve their service to customers and reduce their environmental impact. Ofwat Chief Executive Regina Finn said: "This is the start of the process of making decisions on how each company proposes to provide value-for-money, long-term, high-quality water services to its customers." Thames Water has already announced that it expects its prices to rise by around 3% above inflation each year between 2010 and 2015. Its Chief Executive David Owens said the increases were necessary to make essential investment and replace ageing infrastructure, particularly in London. Last week, Northumbrian Water, which owns Essex & Suffolk Water, also announced plans to introduce "modest" price increase between 2010 and 2015 to tackle sewer flooding and meet demand for drinking water.
© 2008 Adfero Ltd
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