PR19 plans may define future of industry - CCWater CEO
Plans submitted to Ofwat this week "could define the future of the water industry in England and Wales", Consumer Council for Water chief executive Tony Smith has said.
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Water companies were required to submit their intentions for AMP7 to the regulator on Monday 3 September.
The plans, as summarised in Water UK's 'Manifesto for Water', suggest more than £50 billion will be spent on improving services across all the companies, which would represent a 13 per cent rise on AMP6.
Domestic water bills would fall by an average of 4 per cent in real terms should the plans be implemented, while leakage would be cut by more than 16 per cent over the course of the 2020-25 period.
Consumer Council for Water chief executive Tony Smith, who recently said ambitious action on leakage is "long overdue", said the plans submitted for PR19 may be significant at a time when the Labour party has announced its intention to renationalise the industry if it gains power.
“This price review could define the future of the water industry in England and Wales," Smith told The Guardian. "It represents a key opportunity for water companies to restore consumer trust by proving to their customers that they’re taking positive and decisive action.”
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