Water bills to exceed £500 in 5 years

”Water

There could be a shake-up of utility bills as Britain’s water companies have requested wholesale price increases having submitted a new five-year plan to regulator Ofwat.

However, the increases are notably higher than the initial requests that were made last year.

As a result, customers in certain areas may face bills that will increase by 30 percent above inflation in five years time if they are approved.

This will have a huge impact on consumers, especially given the fact that both electricity and gas bills have increased by record amounts over the past year and a half, making the recession an even more uncomfortable time for many.

As part of the reason for a revamp in price structure, the water companies have blamed the recession and the worsening economic climate that they are operating in.

As well as asking for higher bills, there has been a significant cut back in the investment in infrastructure with the biggest cut backs being made by Thames Water who are on a mission to replace London’s Victorian drains.

In the London region, however, customer bills may increase by 17 percent over the five year period, whilst in Bristol, customers may face a 29 percent hike in bills.

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