Water bills set to rocket
September 17, 2008
Over the next five years water bills are set to rocket considerably according to a recent report, and this will put further financial strain on households, who have been feeling the effects of high bills and living costs for some time now. Reports suggest that water bills could jump by around 40% over the next five years. Thames Water, which is the biggest supplier in the country, has already published plans for a series of annual hikes that will see bills rocket over a five year period.
Amongst the proposals by the water company is one to put up water bills by nearly 7% above inflation in 2010. This alone could see water bills rise by around 10% for many customers. With Thames Water already having uncovered its plans for bills hikes, it is thought that many other water suppliers will follow suit and do the same thing.
An official from Thames Water stated: ‘Thames customers have enjoyed the lowest bills in the industry for many years, but we now need to make essential investment to secure their services for the future. This is particularly true for London, where the water and sewerage infrastructure is ageing. There will be an inevitable impact on bills, but even so, we will be able to keep them below the industry average.’
The plans that have been put forward by Thames for water rate rises will need to be approved by the water regulator Ofwat, but customers will also be allowed to have their say about the plans. However, Thames has said that the bill hikes are necessary in order to invest in further development.
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