Water companies set for battle as Ofwat announces spending plan

The water industry financial regulator has this morning announced a spending package that requires water companies to invest £13bn in environmental measures while reducing their bills on average by £50 before inflation.

Ofwat confirmed its finalised price review for 2020-25 this morning, announcing an overall spending plan of £51bn for the next five years. A quarter of this, around £13bn, will be investment dedicated to providing resilient services and a better environment in the face of a growing population and climate change.

At the same time, firms are expected to reduce bills and cut leakage by 16%. Ofwat has said it had secured this “by demanding greater efficiency, passing through lower financing costs and promoting more innovation”.

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