Reports suggest that Ofwat is currently considering allowing water bills to go up further than the 21% average increase it had first proposed in its draft determinations on the water companies' AMP8 business plans.
Reports suggest that Ofwat is currently considering allowing water bills to go up further than the 21% average increase it had first proposed in its draft determinations on the water companies' AMP8 business plans.
Following the consultation period on Ofwat’s proposed increases in bills, figures published by Ofwat today reveal that a majority of the water companies have responded with requests for even higher increases than those set out in their AMP8 business plans.
Table:Change between PR24 business plans, draft determinations and company representations
Source Ofwat
Media reports are suggesting that the majority of water companies have put pressure on the water sector regulator since the draft determinations were published on 11 July.
The water companies had previously asked the regulator to allow bills to rise to an average of £585 by 2030 -an average increase of around 33% on the current average of £439.
Ofwat says the requests were “mostly to meet the requirements of other regulators like the Environment Agency and Drinking Water Inspectorate”, but that some were to meet "changes to the proposed rate of return for investors”.
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