Household water bills in England and Wales increasing by £86 next year

Household water bills in England and Wales will increase by an average of £31 a year over the next five years, regulator Ofwat announced this morning. The increase is significantly higher than it had previously indicated, although it still falls short of what companies such as Thames Water had requested. Ofwat said the increase would pay for a £104bn upgrade of the water sector to deliver “substantial, lasting, improvements for customers and the environment”. However, despite the average £31 a year increase figure, households will face a heavy average hike of £86 or 20 per cent in the next year, excluding inflation, with smaller percentage increases in each of the next four years. Get more of the story 👇 https://www.cityam.com/household-water-bills-to-rise-by-an-average-31-a-year-from-april/ Get more of City AM 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: www.linkedin.com/company/cityam Produced by: Guy Taylor, Joe Lee, Scarlett Wild, Larissa Howie