Average bills for Thames Water customers could rise to as much as £696 a year under the proposals put forward on Wednesday.
Average bills for Thames Water customers could rise to as much as £696 a year under the proposals put forward on Wednesday.
In its response to Ofwat’s draft determination on water companies’ plans, Thames proposed raising average yearly water bills to £666.50 per customer by 2030, a 52% rise.The average bill over the five year period from 2025 to 2030 would be £638 under the proposal.The proposal is an increase on Ofwat’s proposal of raising bills by 23% over the period, which the regulator put forward in July, and more than Thames’ previous planned increase of 44%, submitted to the regulator in April.
Chris Weston, chief executive of Thames Water, said: “We want to deliver a considerable increase in investment in our infrastructure, with total expenditure of £20.7bn in our core plan and a further £3bn through gated mechanisms.” Industry trade association Water UK said Ofwat’s draft plans to limit the rise in household water bills to £19 a year on average will hold back firms’ ability to improve their services.
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