Thames Water warns of even bigger surge in bills under new plans

[ad_1]

The UK’s biggest water company has put forward an investment offer that could increase customer bills even more than the 40% rise it already requested.

Thames Water, which serves 16 million customers in the south of England, has proposed increasing spending by £1.1bn and revealed another potential £1.9bn investment in its network as part of new business plans to regulator Ofwat.

But, if approved, this could mean an additional £19 a year bill increase on top of its inital plan for bill payers to be charged 40% more.

Money latest: Supermarket changes slogan after 20 years

Even higher bills?

Under the utility’s proposed business plan, for the five years to 2030 bills will rise to £608 a year – a 40% rise.

The average bill is currently £432.60 a year.

But if the extra investment is given the go-ahead, it could mean customers have to pay 44% more instead – £627 a year by 2030.

An investment of £18.7bn had already been proposed but under revised plans an extra £1.1bn has been offered to go into “projects benefiting the environment”, Thames Water said.