Average water bills in England and Wales are to fall slightly over the next five years, the regulator Ofwat has revealed.
Typical bills will fall by £3 to £340 by 2015, although this doesn't take the impact of inflation into account. Ofwat said that the verdict on what companies can charge during the five year period was be ten per cent lower than companies had requested.
"People can shop around fro the best deals on many things, but not water. Our job is to do it for them," commented Regina Finn, chief executive officer at Ofwat.
"Customers have told us that they want us to keep water and sewage charges falt while maintaining a safe, reliable supply of water. That's what we've delivered.
"There's more to this than just low bills, it's about what customers get for their money. We've scrutinised every pound in the companies' plans to make sure they deliver what they want at a fair price."
The regulator also said that £22 billion would be invested in maintaining and improving service to customers, in conjunction with household bills remaining broadly flat.
The money will be used to ensure customers continue to see improvements and receive safe and reliable supply of drinking water.
"We're making sure it's invested in the right place, at the right time, for the right price. Everyone will see real benefits from these proposals," added Ms Finn.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.