Ofwat announced a significant increase in water bills, with an average rise of 86 or 20% in the next year, funding a 104 billion sector upgrade.
David Black stated that water companies must regain customer trust, leveraging the 104 billion upgrade to transform their environmental performance and improve service quality.
He emphasized the importance of monitoring companies' investment programs, acknowledging the difficult financial environment for customers, especially those struggling to pay their bills.
The regulator has scrutinized funding requests to ensure they provide value and deliver improvements, while eliminating 8 billion in unjustified costs from recent requests.
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