Defra: There has been widespread coverage this morning following Ofwat setting out a major package of investment to signal a new era for what the water sector delivers for customers and the environment. This has been covered in the Financial Times, Guardian, Mirror, Independent, Telegraph, Daily Mail, BBC, ITV and Sky News. Proposals unveiled involve water companies investing an additional £6 million each and every day over the next five years – over and above investment to maintain existing assets – to improve the environment and services for customers, at the same time as cutting bills by £50.The future water company plans include commitments to deliver significant projects across England to protect the environment over the next 5 years (2020-2025). The Environment Agency has been very involved in the Ofwat price review process.
Ofwat has set out a major package of investment to signal a new era for what the water sector delivers for customers and the environment.
Proposals unveiled today involve water companies investing an additional £6 million each and every day over the next five years – over and above investment to maintain existing assets – to improve the environment and services for customers, at the same time as cutting bills by £50.
The announcement is laid out in Ofwat’s price review draft determinations for 14 of the 17 water companies in England and Wales. Three water companies, Severn Trent, South West Water and United Utilities, have already been fast-tracked through this stage of the price review in recognition of their high-quality plans for the next five years.
In what is the most far-reaching price review the regulator has ever undertaken, there are ambitious new targets to drive water companies to do even more for customers and the environment. These include:
- cutting pollution incidents by more than a third,
- reducing supply interruptions by almost two-thirds,
- helping 1.5 million customers who are struggling to pay, and;
- cutting leakage to save enough water equivalent to the needs of the population of Manchester, Leeds, Leicester and Cardiff.
Extreme weather events, climate change and population growth mean that water companies need to make sure they are doing everything they can now, so that they continue to provide safe and reliable water and wastewater services whatever the future brings.