Household water and sewerage bills are to be reduced by 4% or – around £17 – on average in 2020/21.
That will see consumer bills fall from £413.33 to £396.60 a year on average, with variations depending on the company.
In addition to the reduction in bills, more customers who find it difficult to pay are expected to receive help, with water companies planning to almost double the number of people they help with bills from 760,000 to at least 1.4 million by 2025.
Water companies have also pledged to spend at least £1 billion a year over five years as part of the industry’s goal to achieve net zero carbon emissions by 2030.
They have made a commitment to plant 11 million trees, restore original woodland and improve natural habitats such as peatland that capture carbon and pledged to prevent the equivalent of four billion plastic bottles from going to waste by 2030 through refill drinking water schemes.
Christine McGourty, Chief Executive of Water UK said: “The water industry is committed to giving customers good value for money. For around £1 a day, customers get the world-class quality water they need and their wastewater managed responsibly.
“Companies are also committed to investing for the future and protecting the environment, with an ambitious goal to achieve net zero carbon emissions for the sector by 2030. And companies are increasing the assistance available for customers who need it most. The number of people getting help to pay their water bills will almost double, whether that’s through reduced tariffs or targeted support.”