Water companies in England are reportedly seeking permission to increase bills by up to 40% in order to cover the costs associated with the sewage crisis and the climate emergency. These proposed increases, which will be announced next year, could result in annual bills rising from an average of £450 to £680 in certain regions by the end of the decade, as stated in a report by The Times.
According to the report, most water companies are requesting approval for real-term price hikes of around 25% between 2025 and 2030. Thames Water is proposing a 20% rise, while Wessex Water aims to increase prices by 30%.
The issue of bill increases will be discussed by Chancellor Jeremy Hunt during a meeting with water regulator Ofwat and other watchdogs. Hunt plans to inquire about the actions being taken to address companies that are taking advantage of rising consumer inflation to raise prices.
Water bills in England and Wales already rose by the highest amount in almost two decades this past April. The average annual bill increased to £448, representing a 7.5% rise. Consumer groups expressed concern that this additional expense, amounting to an increase of 8p per day, could push one in five customers to their financial limits.
Furthermore, consumer groups highlighted the potential for some customers to face even higher bills due to regional variations and individual factors such as metered usage.
In an effort to protect consumer rights and ensure transparency, it is important for regulators and watchdogs to carefully consider the proposed bill increases by water companies and take necessary steps to prevent exploitation. This issue adds further financial strain to households already grappling with the escalating costs of energy and food.
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