Water bill rises: Warning millions will struggle to pay

Published On Nov 5, 2024, 7:09 PM

A consumer watchdog has reported that millions of households in England and Wales are expected to struggle with water bill increases averaging £19 per year (21%) between 2025 and 2030. A survey indicates that 40% of households fear that they will not afford the increase, prompting discussions about more support for vulnerable customers. Water companies are under scrutiny for past performance, especially following increased instances of sewage spills. Ofwat is considering potential larger bill hikes for some companies, given the industry's financial pressures. Companies express the need for investments to improve infrastructure while acknowledging that higher bills are unwelcome.

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The water sector in the UK, particularly companies providing services in England and Wales, could see potential investment opportunities amidst necessary improvements and increased bill prices. However, with public concern over affordability and investment allocation, volatility is expected. Investors could be cautious due to impending regulatory changes and public backlash against higher charges.

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