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Extra £12bn AMP7 Investment Proposed to Water Companies by Ofwat
19 Jul 2019
Ofwat, the Water Services Regulation Authority, has proposed that water companies invest an extra £12bn over the course of AMP7 and cut bills by an average of 12.7%, in its draft determinations for PR19.
Under the proposals, customer bills could be cut by up to £50.
It’s part of a plan to build a new era of improved service and environmental responsibility and includes a series of targets water companies must meet:
- 17% reduction of leakage
- 40% reduction in sewer flooding
- 64% drop in supply interruptions
- Extra help provided for 2 million more vulnerable customers
These are aimed at preparing the country for increased population and climate change in the long term.
The final determinations for all companies will be published on 11th December 2019, with a deadline of 11th February 2020 for companies to accept or appeal the determinations.
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