The water regulator, Ofwat, has set out plans for a big new investment programme for the sector, which should also see customers’ water bills cut by an average of £50.
As part of its price review for 2020-25, Ofwat has announced a spending package of £51bn for the next five years.
It says a quarter of this, about £13bn, “will be investment dedicated to providing resilient services and a better environment in the face of a growing population and climate change”.
Ofwat chief executive Rachel Fletcher said: “Today we’re firing the starting gun on the transformation of the water industry backed by a major investment programme to deliver new, improved services for customers and the environment and resilience for generations to come. Now water companies need to crack on, turn this into a reality and transform their performance for everyone.
“They will be investing the equivalent of an extra £6m each and every day to overhaul services, strengthen their infrastructure and improve our natural environment. And at the same time, customers’ bills will fall by an average of £50 before inflation.”
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