2 hours agoBy Tom Espiner, Business reporter, BBC News Getty ImagesA proposed average 21% hike in bills in England and Wales won’t be enough to address problems including sewage leaks, water firms have warned.The firms are in a standoff with regulator Ofwat over proposed bill rises.Ofwat has said it wants firms to limit rises for households to an average of £19 per year until 2030.But water companies have hit back, saying the regulator had “got this wrong” and warned the bill rises wouldn’t be enough to “deal with the water shortages we know are coming”.Although the proposed average rise will put more pressure on households, it is a third less than the amount requested by water companies.The bill hike is intended to fund investment for improvements such as replacing leaking pipes and reducing sewage discharges into rivers and seas.It comes as suppliers face increasing scrutiny over and public anger over their environmental and financial performance, as well as executive bonuses and pay.The bill hike varies by region, with Thames Water customers facing an increase of £99 or 23% over the next five years, Anglian customers looking at £66 or 13%, and Southern Water customers facing £183, an increase of 44%.But this is less than firms had been requesting. For example, Thames Water’s proposed increase of £191 by 2030 was reduced to £99, while Severn Trent’s proposed increase of £144 was lowered to £93.The proposed bill rises can be challenged by the water firms, with a final determination due at the end of the year, and increases set to take place from April.David Henderson, chief executive of industry group Water UK, told BBC business editor Simon Jack that the regulators decision was “unrealistic and unfair”.”Our economy and environment will pay the price,” he added.A spokesperson for Water UK said the plans were “the biggest ever cut in investment” and argued “the recovery of our rivers will be slower and we will fail to deal with the water shortages we know are coming”.But Ofwat chief executive David Black said its plan marked the “biggest ever” investment in the water sector and would mean “sustained improvement to customer service and the environment at a fair price for c …
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[mwai_chat context=”Let’s have a discussion about this article:nn2 hours agoBy Tom Espiner, Business reporter, BBC News Getty ImagesA proposed average 21% hike in bills in England and Wales won’t be enough to address problems including sewage leaks, water firms have warned.The firms are in a standoff with regulator Ofwat over proposed bill rises.Ofwat has said it wants firms to limit rises for households to an average of £19 per year until 2030.But water companies have hit back, saying the regulator had “got this wrong” and warned the bill rises wouldn’t be enough to “deal with the water shortages we know are coming”.Although the proposed average rise will put more pressure on households, it is a third less than the amount requested by water companies.The bill hike is intended to fund investment for improvements such as replacing leaking pipes and reducing sewage discharges into rivers and seas.It comes as suppliers face increasing scrutiny over and public anger over their environmental and financial performance, as well as executive bonuses and pay.The bill hike varies by region, with Thames Water customers facing an increase of £99 or 23% over the next five years, Anglian customers looking at £66 or 13%, and Southern Water customers facing £183, an increase of 44%.But this is less than firms had been requesting. For example, Thames Water’s proposed increase of £191 by 2030 was reduced to £99, while Severn Trent’s proposed increase of £144 was lowered to £93.The proposed bill rises can be challenged by the water firms, with a final determination due at the end of the year, and increases set to take place from April.David Henderson, chief executive of industry group Water UK, told BBC business editor Simon Jack that the regulators decision was “unrealistic and unfair”.”Our economy and environment will pay the price,” he added.A spokesperson for Water UK said the plans were “the biggest ever cut in investment” and argued “the recovery of our rivers will be slower and we will fail to deal with the water shortages we know are coming”.But Ofwat chief executive David Black said its plan marked the “biggest ever” investment in the water sector and would mean “sustained improvement to customer service and the environment at a fair price for c …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
