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It has been revealed that some customers of Northumbrian Water could see their bills be reduced in the last five years of the decade. The news comes as part of the draft determinations which were published by Ofwat at the end of May.
Ofwat is the regulator for all of the water companies across the UK. It revealed the prices that Northumbrian Water and Dwr Cymru can charge their customers for water and sewerage services during the year 2014. The reveal came as part of the 2014 Price Review, which lays out prices for the period between 2015 and 2020. The water companies sent Ofwat their business plans in December of the last year- meaning that this price review is a final determination of their upcoming price controls.
Under the submitted plans, Dwr Cymru will aim to reduce their customer bills by 5% whilst Northumbrian Water are slightly less ambitious, hoping to decrease them by 2% between 2015 and 2020. The companies will also invest £2.5 billion and £2.7 billion respectively in maintaining and improving their services for both customers and the environment.
Ofwat’s Chief Executive believes that the proposed price plans will help the companies’ gain consumer trust. She said that the regulator recognises that public confidence is a key element of the success of water companies. She added that this price review has seen companies rise to the challenge of providing better deals for their customers, whilst planning efficient and innovative strategies for the future.
Ofwat consultation on the proposals is open until the first week of July so the plans could be subject to change, although this is unlikely.
If you wish to find out more about Northumbrian Water’s prices, call the Northumbrian Water contact phone number.