Water bills in England and Wales are set to fall by an average of £50 between 2020 and 2025, under plans published by the industry regulator. Ofwat said firms would also have to invest an additional £6m each day in improving services for customers.
Aashna Shroff, personal finance expert at money.co.uk, comments: "The proposed cut to water bills will be welcomed by customers and environmentalists alike. "Investment into the infrastructure will not just benefit consumers due to the reduction in their bills, but will also have a significant impact on the environment. "The amount of wasted water from leaking pipes is simply not acceptable. And the fact that only three out of 17 water firms passed the last review by Ofwat, highlights the need for more money to be invested in an ageing infrastructure. "It's just a shame it took intervention by the industry regulator to demand the water firms change their ways or face punitive penalties. "Hopefully this is the shot across the bows they needed. "It's about time they gave something back to their customers, and Ofwat should be commended for the tough stance it's taken."
Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. Salman left the world of journalism and moved to the UK to pursue a passion for personal finance and a desire to help people make informed financial decisions.Read Salman Haqqi's articles and guides