Britons face even higher bills as part of efforts to clean up the country's rivers, seas and beaches, the water industry has warned.
Several of the UK's most prominent water companies have joined Severn Trent in submitting multi-billion-pound infrastructure investment proposals to slash the enormous volume of leaks and sewage discharges experienced in recent years.
Average water bills in England are anticipated to grow by an extra £7 per month by 2025, with this swelling to a £13 per month increase by 2030, corresponding to a £156 annual rise.
Plans: Industry body Water UK said the sector is committing £96billion towards enhancing the country's water and sewage infrastructure between 2025 and 2030
From 2025 to 2030, United Utilities plans to spend £13.7billion on improvements, including the installation of 900,000 smart meters and replacing 950 kilometres of pipes and mains across North West England.
Britain's largest listed water firm hopes the funding will reduce leakages by a quarter and sewage spills by around 60 per cent across its system for the decade ending 2030 and cut internal flooding of homes and businesses by nearly a third.
To fund these measures, it said customers would see their average water bills rise by around £22 per year, although it has offered a £525million support package to help those who might struggle to pay.
Over the same time frame, Pennon Group wants to invest £2.8billion on its network, partly financed by a 22 per cent real terms increase on bills for South West Water customers.
Yorkshire Water and Welsh Water have also announced investment schemes totalling £7.8billion and £3.5billion, respectively.
They follow Midlands-focused Severn Trent, which revealed a 'record' £12.9billion capital expenditure programme last Friday.
RELATED ARTICLES
Previous
1
Next
Qatar takes Severn Trent stake as water group pledges... Southern Water pins efficiency hopes on 'LeakBot' trial Macquarie pours fresh funds into Southern Water Severn Trent boss shrugs off water shortage fears amid...
Share this article
Share
37 shares
Industry body Water UK said the sector is committing £96billion towards enhancing water and sewage infrastructure between 2025 and 2030, a 'near-doubling' of current investment levels.
Should all proposals be given the green light by Ofwat, Water UK said they would lead to leakages falling by more than 25 per cent and the equivalent of 6,800 fewer Olympic swimming pools of overflow spills each year.
In addition, ten new reservoirs would be constructed, and more advanced technology at sewage works would eliminate over a million tonnes of phosphorus from rivers.
David Henderson, chief executive of Water UK, said: 'While increasing bills is never welcome, investment in our water system is essential to ensure the security of our water supply in the future.'
He added: 'Approving the plans is necessary so that we can provide the highest quality drinking water for a growing population, ensure the security of our water supply in the future and reduce the use of storm overflows as much as possible.'
Ofwat has promised to 'forensically scrutinise' the sector's blueprint to ensure the hike in bills over the five-year period is 'justified.'
Environment Secretary Therese Coffey has said 'major improvements' were required, having called for water firms to 'step up and deliver lasting changes' with its 2025-2030 submission.
Ms Coffey said she has been 'very clear' with Ofwat that 'customers should not pay the price Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Ice River KS3 Miner For Sale - miningstore.co.uk poor performance.'
The watchdog, which has faced questions about its ability to regulate the sector, will scrutinise the plans before a final decision is made at the end of next year.
DIY INVESTING PLATFORMS
Stocks & shares Isa
Stocks & shares Isa
Easy investing
Capital at risk. Isa rules & T&Cs apply.
Investment ideas
Free fund dealing
Free fund dealing
0.45% account fee capped for shares
Flat-fee investing
No fees
£9.99 monthly fee
One free £5.99 trade per month
Social investing
Social investing
Share investing
30+ million global community
Model portfolios
Investment account
Free fund dealing
Free financial coaching
Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence.
> Compare the best investing platform for you
Several of the UK's most prominent water companies have joined Severn Trent in submitting multi-billion-pound infrastructure investment proposals to slash the enormous volume of leaks and sewage discharges experienced in recent years.
Average water bills in England are anticipated to grow by an extra £7 per month by 2025, with this swelling to a £13 per month increase by 2030, corresponding to a £156 annual rise.
Plans: Industry body Water UK said the sector is committing £96billion towards enhancing the country's water and sewage infrastructure between 2025 and 2030
From 2025 to 2030, United Utilities plans to spend £13.7billion on improvements, including the installation of 900,000 smart meters and replacing 950 kilometres of pipes and mains across North West England.
Britain's largest listed water firm hopes the funding will reduce leakages by a quarter and sewage spills by around 60 per cent across its system for the decade ending 2030 and cut internal flooding of homes and businesses by nearly a third.
To fund these measures, it said customers would see their average water bills rise by around £22 per year, although it has offered a £525million support package to help those who might struggle to pay.
Over the same time frame, Pennon Group wants to invest £2.8billion on its network, partly financed by a 22 per cent real terms increase on bills for South West Water customers.
Yorkshire Water and Welsh Water have also announced investment schemes totalling £7.8billion and £3.5billion, respectively.
They follow Midlands-focused Severn Trent, which revealed a 'record' £12.9billion capital expenditure programme last Friday.
RELATED ARTICLES
Previous
1
Next
Qatar takes Severn Trent stake as water group pledges... Southern Water pins efficiency hopes on 'LeakBot' trial Macquarie pours fresh funds into Southern Water Severn Trent boss shrugs off water shortage fears amid...
Share this article
Share
37 shares
Industry body Water UK said the sector is committing £96billion towards enhancing water and sewage infrastructure between 2025 and 2030, a 'near-doubling' of current investment levels.
Should all proposals be given the green light by Ofwat, Water UK said they would lead to leakages falling by more than 25 per cent and the equivalent of 6,800 fewer Olympic swimming pools of overflow spills each year.
In addition, ten new reservoirs would be constructed, and more advanced technology at sewage works would eliminate over a million tonnes of phosphorus from rivers.
David Henderson, chief executive of Water UK, said: 'While increasing bills is never welcome, investment in our water system is essential to ensure the security of our water supply in the future.'
He added: 'Approving the plans is necessary so that we can provide the highest quality drinking water for a growing population, ensure the security of our water supply in the future and reduce the use of storm overflows as much as possible.'
Ofwat has promised to 'forensically scrutinise' the sector's blueprint to ensure the hike in bills over the five-year period is 'justified.'
Environment Secretary Therese Coffey has said 'major improvements' were required, having called for water firms to 'step up and deliver lasting changes' with its 2025-2030 submission.
Ms Coffey said she has been 'very clear' with Ofwat that 'customers should not pay the price Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Buy Ice River KS3 Miner For Sale Ice River KS3 Miner For Sale - miningstore.co.uk poor performance.'
The watchdog, which has faced questions about its ability to regulate the sector, will scrutinise the plans before a final decision is made at the end of next year.
DIY INVESTING PLATFORMS
Stocks & shares Isa
Stocks & shares Isa
Easy investing
Capital at risk. Isa rules & T&Cs apply.
Investment ideas
Free fund dealing
Free fund dealing
0.45% account fee capped for shares
Flat-fee investing
No fees
£9.99 monthly fee
One free £5.99 trade per month
Social investing
Social investing
Share investing
30+ million global community
Model portfolios
Investment account
Free fund dealing
Free financial coaching
Affiliate links: If you take out a product This is Money may earn a commission. This does not affect our editorial independence.
> Compare the best investing platform for you
댓글 달기