British water companies are planning to slash bills for millions of customers in England and Walse.
Severn Trent and United Utilities have decided to cut bills by 10.5% and 5% respectively of households and would try to lower the leaks. Same time South West Water has offered customers to stake in its company.
The proposals are being presented by water companies in England and Wales to Water Regulation Authorities Ofwat for five years from 2020-2025. The authority would issue an estimation of every company’s plan in January 2019.
In December regulators said that the results of its value audit would result in a cut in bills somewhere in the range of £15 and £25 a year from 2020 to 2025.
Water bill has climbed up about 40% since privatization in 1989 and the regulator confronted feedback for overestimating the expenses brought about by water organizations, which have been considered by Ofwat amid its value surveys.
The new price evaluation was declared while the Labour party had been talking over proceedings companies into public ownership.
Ofwat’s strategy and planning senior director, John Russell said that they had achieved a milestone in the price evaluation process. From now and until January 2019 they would examine every last strategy for success and will be searching for proofs that they are strong, ambitious and, vitally, that they have been formed by customers.