Some water customers’ bills could reduce during the last five years of the decade as part of the draft determinations published by Ofwat today.
The water regulator has revealed the prices Northumbrian Water and Dŵr Cymru can charge their customers for water and sewerage services as part of the 2014 price review, which lays out proposals for the period between 2015 and 2020.
Water companies sent Ofwat their business plans in December last year following which it makes draft and final determinations on their price controls.
Under the current submitted plans, Dŵr Cymru will reduce customer bills by 5% and Northumbrian Water by 2% between 2015 and 2020. They will invest £2.5 billion and £2.7 billion respectively, which will maintain and improve services for customers and the environment.
Cathryn Ross, Ofwat’s Chief Executive believes the draft proposals will help build consumers’ trust.
She said: “We recognise that public trust and confidence is essential if water and sewerage companies are going to remain legitimate in the eyes of their customers.
“Under this price review we have seen companies rising to the challenge and developing innovative and efficient solutions for their customers both now and in the future and for the environment.”
Consultation on the proposals is open until July 4th.