The water regulator OFWAT has released draft recommendations for the levels which water companies can increase bills over the next five years.
The average proposed hike is 21% but Southern Water has the highest proposed increase in the country at a rate of 44% meaning that customers could pay an average of £183 extra each year.
Southern Water is now considering water regulator Ofwat’s initial proposals for how their customer bills and investment plans will look between 2025 and 2030.
The regulator published its draft determination on Thursday 11 July 2024 – nine months after Southern Water submitted original proposals for future improvements.
Stuart Ledger, Southern Water’s Chief Financial Officer, said:
“Since submitting our business plan in October, we have continued to engage with stakeholders and customers, to feed into Ofwat’s process.
“We are now reviewing Ofwat’s Draft Determination, and we will publish our response on 28 August 2024, ahead of Ofwat’s Final Determination in December 2024.”
