UK households should see the average annual water bill cut by £14 to £330 over the next five years, according to the regulator’s proposals revealed today. The before-inflation cuts were set out in Ofwat’s draft pricing limits for 20010-15, but are likely to meet resistance from water companies. Water companies had been hoping to increase prices by 5% next year and 2.5% over the whole of the next five years, an average £28 above inflation hike with many counting on the rises to fund capital spending on water and drainage infrastructure. But the regulator said its draft determination would still allow water companies to ‘invest extensively’ in the network and spend almost £21bn over the five-year period. More than £4bn will be invested in improving drinking water and protecting the environment, Ofwat said. Water bills have more than tripled since privatisation in 1989, rising faster than inflation and the rate of increase in other utilities. Average bills in the South-West are the highest at £450 a year while those of Thames Water are the lowest at £280.
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