Water companies to return £158m on bills over poor performance

Published On Oct 8, 2024, 2:02 AM

Water companies in England and Wales are set to refund £158 million to customers due to poor performance, such as failing key targets related to pollution and service. The industry regulator, Ofwat, indicated that this is a result of the annual review of the companies’ performance. Despite the rebates, customers are expected to see an overall bill increase of £94 over the next five years as water firms argue they need to enhance infrastructure. The regulator emphasized that more than just financial penalties are needed to instigate real change in the companies' operations and culture.

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On the other hand, infrastructure improvement actions and regulatory changes could present investment opportunities. Companies that successfully adapt and innovate in response to regulation may see long-term gains, though the immediate outlook remains shaky. Overall, defensive strategies or investments in companies with solid performance records should be favored.

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Water companies to return £158m on bills over poor performance

Oct 8, 2024, 2:02 AM

Ofwat reviews water companies against metrics including pollution, customer service and leakage.

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