Three major UK water companies have appealed to the Competition and Markets Authority (CMA) for permission to increase customer bills following Ofwat's December ruling. Ofwat stated companies could raise bills by an average of £157 or 36% over the next five years, with Anglian Water, South East Water, and Southern Water seeking reconsideration of these increases. Executives expressed concerns about the impact on customer service and infrastructure improvements, stating the bill increases do not align with the goal of balancing investor and customer interests.
Ofwat's stated aims for this settlement were to align the interests of companies and investors to those of customers, by setting the appropriate balance of risk and return.
In its current format, it presents a risk to water security for our customers in the region.
The settlement would not enable us to deliver the environmental and performance improvements and new infrastructure that our customers and communities rightly expect.
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