Water firms to return £240m to customers for poor performance
Summarised from 2 outlets · 3 reports · Updated 14 Oct, 08:44 · Archive
Ofwat has announced that water companies will return £240 million to customers by 2030 through bill reductions for failing to meet environmental and customer service targets. The total net bill reduction under the draft plans is £240 million by 2029-30, with £107 million being returned through customer bills in 2027-28.
Yorkshire Water and Thames Water face the largest penalties, at £75 million and £46 million respectively in April 2027 under Ofwat's provisional plans. Some firms will see outperformance payments, with the largest applying to Severn Trent and Northumbrian Water.
However, bill cuts are likely to be offset for many customers by separate Ofwat plans allowing water companies to hike annual tariffs by an extra £3.4 billion on top of the 36 per cent average rise already agreed for the five years to 2030. Ofwat stressed that changes to bills are 'affected by a range of factors and the effect will vary by company and customer type'. The regulator will make its final decision on outcome delivery incentive payments by December 15, which will take effect on bills from April 1 next year.
How it is being reported
- Water firms set to return £240m to customers by 2030 for poor performanceThe total net bill reduction under the draft plans is £240 million by 2029-30, with £107 million being returned through customer bills in 2027-28.Independent Business · 14 Oct, 08:31
- Water firms set to return £240m to customers by 2030 for poor performanceThe total net bill reduction under the draft plans is £240 million by 2029-30, with £107 million being returned through customer bills in 2027-28.Evening Standard · 14 Oct, 08:31
- Water firms set to return £240m to customers by 2030 for poor performanceThe total net bill reduction under the draft plans is £240 million by 2029-30, with £107 million being returned through customer bills in 2027-28.Independent Business · 14 Oct, 08:11
In this story: Ofwat · Yorkshire Water · Thames Water · Severn Trent · Northumbrian Water
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