Water companies ordered to slash customer bills by £67m next year after failing to meet regulator’s standards
Falling standards: Water companies will be forced to slash bills by £67m next year
Water companies will be forced to slash customer bills by more than £67million next year in England and Wales, as many failed to live up to standards set by themselves and the regulator.
Thames Water, the supplier for the London region, will have to slash bills by £53million in the year ending March 2023. Southern Water will have to forgo nearly £46million and Southwest Water more than £15million.
Others blew through their targets and will be allowed to reap rewards, with United Utilities able to charge their north western customers an extra £20million and Severn Trent £2million.
Water firms are rewarded, or punished, according to targets set with Ofwat to encourage them to invest in their networks and customer service.