Bank of England expected to leave interest rates on hold today; household water bills to rise 36% by 2030 – business live
Regulator Ofwat rules that bills in England and Wales will increase by an average of £31 per year from 2025 to 2030Thames Water to get green light to hike bills by more than a third by 2030Ofwat says the “£104bn upgrade” funded by a 36% increase to household energy bills will fund a range of projects to improve, and clean up, the water service.This will include:£12bn on 2,884 projects reducing spills from storm overflows;£6 billion of upgrades to combat nutrient pollution for around 1,000 sites and catchments;£3.3bn on nature-based solutions and increasing biodiversity;£2bn of development funding to unlock £50bn investment for 30 major projects designed to secure water supplies including nine new reservoirs and nine large-scale water transfer schemes;£456m of extra funding on day-to-day allowances to increase the rate at which water mains are replaced, with 8,445km set to be improved over the next five years. Continue reading...
Regulator Ofwat rules that bills in England and Wales will increase by an average of £31 per year from 2025 to 2030
Ofwat says the “£104bn upgrade” funded by a 36% increase to household energy bills will fund a range of projects to improve, and clean up, the water service.
This will include:
£12bn on 2,884 projects reducing spills from storm overflows;
£6 billion of upgrades to combat nutrient pollution for around 1,000 sites and catchments;
£3.3bn on nature-based solutions and increasing biodiversity;
£2bn of development funding to unlock £50bn investment for 30 major projects designed to secure water supplies including nine new reservoirs and nine large-scale water transfer schemes;
£456m of extra funding on day-to-day allowances to increase the rate at which water mains are replaced, with 8,445km set to be improved over the next five years. Continue reading...
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