Water bills to rise in April
March 27, 2008
Consumer across England and Wales are to see their water bills rise by 5.8% from April according to a recent report. Figures suggest that the average 5.8% rise will equate to around £18 per year more for the average household, and although this does not seem a lot it is simply another increased bill for many households that are already struggling to keep on top of rising repayment.
The water regulator in the UK, Ofwat, claims that it has done all that it could to keep the rise as low as possible, adding that the 5.8% rise is lower than the 7% rise from last year. One official from Ofwat stated: “The work that Ofwat has done to keep prices down, including setting companies tough efficiency challenges, has kept customers’ bills around £100 lower than they would otherwise have been. Clearly any bill increases are going to be unwelcome but these price rises are essential to enable companies to continue to provide high-quality, secure water and sewerage services both now and for future generations.”
Consumers in the UK are already suffering the financial consequences of rising gas and electricity bills, increases in the cost of food, and higher petrol prices, whilst still trying to cope with high mortgage repayments due to the spate of interest rate rises between August 2006 and July 2007. Whilst interest rates have dropped twice in the past three months many homeowners are still paying far more than they were before the rises took place.
The announcement about higher water costs comes shortly after the recent base rate cut in February, mirroring the announcement of higher energy usage costs which came shortly after the previous base rate cut in December.
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