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Thames Water Prepares Price Hike

11 Jun 2013

Thames Water customers are set to face higher bills as part of a drive to recover costs caused by bad debt and the recent extreme weather conditions.

The biggest water company in the UK are proposing price rises of around £15 in the 2013/14 and £8 in 2015/16 with plans to invest some of the revenue into infrastructure services such as the Thames Tideway Tunnel. In addition, Thames Water said it had identified £90m in efficiencies since 2010 to reinvest back into the business. The company is currently scoring amber in four key performance indicators – sewer flooding; wastewater; asset performance; pollution incidents and post-tax return. The remaining 16 are green.

The Chief Executive of Thames Water, Martin Baggs said “Over the past financial year, exceptional weather conditions have presented tough challenges for the business. The period began with a drought, following the driest two-year period on record, and ended with widespread flooding after becoming England’s rainiest 12 months on record. “Despite these challenges, we have for the third year running carried out a further £1bn of improvements to our networks, while the average household bill in our region is the second-lowest in the country. Our operational performance remains strong. “We are now focussed on the significant challenges ahead, including continuing to improve customer service and continuing to support and promote the Thames Tideway Tunnel”.

Source: Enzen