Saturday, December 5, 2009

Thames Water customers face inflation-busting price increases

The Evening Standard reports:

Millions of Thames Water customers face inflation-busting increases in their water bills over the next five years.

Bills will be allowed to rise by 3.3 per cent more than the cost of living between next year and 2015, regulator Ofwat said today. In today's prices they will rise from an average of £303 to £313, with the biggest annual increase coming in 2012.
Of the major water suppliers, only Northumbrian and Southern will increase bills by more. Across England and Wales bills will rise by one per cent less than inflation over the five-year period.

However, Thames Water initially asked Ofwat to approve a far steeper rise - by 16 per cent more than inflation, to £356 in 2009 prices.