Ofwat's five-year plan for English and Welsh water costs predicts an average increase of £86 in bills from April, with MoneySavingExpert offering tips to mitigate the impact.
Water regulator Ofwat announced its five-year plan for English and Welsh water costs last week. The typical water bill will rise by an average of £86 from April for a year before easing, the industry regulator has said. Over the next five years, the average rise in bills will be £31 a year, but Ofwat said firms are expected to hike tariffs more in the first year. MoneySavingExpert.com has issued tips for tackling the rising costs and saving hundreds of pounds in the process.
Describing the water industry, Martin said: 'Perversely, we may have the worst of both worlds, with privatisation but no competition the fact you can't switch supplier leaves many thinking it's a done deal when it comes to saving money. It isn't.' The money saving website advises that millions in England and Wales can save £100s by switching to a free water meter. In England and Wales you can get a free water meter, which measures how much you use, so you're billed accordingly. If not, you'll get a water bill. These are based on the old pre-1990 rates system which is roughly your home's rentable value, essentially a proxy for how much your property's worth. So those with bigger homes tend to pay more, even if they're using little water. MoneySavingExpert.com advises 'Some with shared pipes or in flats are told by water firms they can't 'practicably' have a meter fitted. If so, ask for an 'assessed charge bill', which works out how much you'd likely pay if you had a meter. Then, if that's cheaper than your normal water bill, switch to it. If not, don't.' They also suggest up to two million low income households missing out on financial help according to the Consumer Council for Water. Social tariffs are offered by all water firms and can reduce what you pay by up to 90% by lowering or even capping the cost of water bills or water meter charges
WATER BILLS COST OF LIVING OFWAT MONEY SAVING SOCIAL TARIFFS
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Water Bills to Rise 36% in England and Wales as Thames Water Faces CrisisOfwat, the water regulator, has approved an average 36% increase in water bills for the next five years, a move welcomed by investors but not a solution to the industry's underlying financial problems. Thames Water, the UK's largest water company, is facing a severe crisis with £19 billion in debt and only enough funds to last until March. While a £3 billion emergency loan is expected, Thames Water still needs billions more to avoid collapse.
Read more »
Water Bills to Rise, Southern Water Faces Outage CrisisWater bills in England and Wales are set to increase, while a technical fault at a Southern Water supply works has left tens of thousands of homes and schools without water.
Read more »
Severn Trent Water outlines plans for 'transformational' £470m investment programme after hiking water billsSevern Trent Water has outlined plans for a 'transformational' £470m investment in Shropshire it says will improve services for customers, boost water supplies, improve river health and create 7,000 jobs.
Read more »
Water Bills to Rise by £31 a Year in England and WalesOfwat approves average £31 annual increase in bills over five years, despite concerns about water company performance. The announcement comes as thousands are left without water due to a technical fault.
Read more »
Ofwat Future in Doubt as Water Bills Rise and Review AnnouncedThe fate of Ofwat, the water industry regulator, hangs in the balance following a government review aimed at addressing the rising cost of water bills and the deteriorating state of Britain's waterways. Campaigners condemn Ofwat as ineffective, while the government pledges action to prevent future bill hikes driven by failures in the sector.
Read more »
Water Bills in England and Wales to Rise Significantly Over Next Five YearsOfwat, the water regulator, has announced an average increase of £31 per year for household water bills in England and Wales over the next five years. This figure is higher than the previously anticipated £20 per year increase. The additional funds will be used for a £104 billion upgrade of the water sector, aimed at improving services for customers and the environment. However, households will face a substantial increase of £86 or 20% in the next year alone, excluding inflation.
Read more »