Households in England and Wales face a 36% increase in water bills by 2030, averaging an extra £31 per year over the next five years. This hike, announced by the regulator Ofwat, aims to fund a £104 billion upgrade to the water sector to address pollution and water shortages. Thames Water has also been penalized £18.2 million for breaking dividend payment rules.
The hike means bills will increase by an average £31 a year over the next five years in what will be a significantly higher increase than the expected average rise of around £20 a year per household, outlined in the rOfwat announced the charges to fix what Environment Secretary Steve Reed says are the “twin crisis” of pollution and shortages.
Ofwat also announced that Thames Water has been handed an £18.2 million penalty for breaking dividend payment rules, with the regulator’s chief executive David Black hailing “a significant moment”. “Alongside the step up in investment, we need to see a transformation in companies’ culture and performance. We will monitor and hold companies to account on their investment programmes and improvements.”Mr Reed said “the public are right to be angry” about the state of the water industry.
WATER BILLS WATER INDUSTRY POLLUTION SHORTAGES INVESTMENT
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