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Regulator Ofwat will publish its plans to change the way water is priced by the end of this month, with further details likely on how customers may become involved. Ofwat has been reviewing its complex approach to pricing, which involves monitoring water companies closely over three years before setting prices for five years. This is increasingly regarded as a cumbersome approach.
The aim of the changes is to encourage the water industry to focus more on customer concerns and improve incentives to innovate in an industry that a previous Ofwat report has said has become...Read more here---> Regulator Ofwat ready to reveal proposals on water prices
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Britain's 19 water companies have submitted their price proposals for the period between 2015 and 2020. With the exception of Thames Water - the nation's biggest water service provider - they are all pledging to either freeze or cut bills in real terms during that time. The average UK household currently pays £388 a year for water and sewerage services. The regulator Ofwat, had urged the firms to apply downward pressure on bills, despite them spending millions on investment programmes. Thames Water wants a real terms price hike of 11% - to fund £8bn of investment projects.....Read more here