Anglia Water price pledge
EAST Anglia's biggest water supplier is today pledging to keep price rises below one per cent over the next five years.Anglian Water promised 'no surprises' for bill payers over the next five years in a bid to keep water affordable.
EAST Anglia's biggest water supplier is today pledging to keep price rises below one per cent over the next five years.
Anglian Water promised 'no surprises' for bill payers over the next five years in a bid to keep water affordable.
If approved by industry regulator Ofwat, the five year business plan will mean an average increase in household water and wastewater bills of 0.6 percent each year, excluding inflation.
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This equates to a rise of �11 between 2010 and 2015 - just over a pound a day for the average household.
Anglian Water's proposed investment of �2.26 billion could also create or secure up to 7,000 jobs in the region.
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Jonson Cox, Anglian Water's Chief Executive, said: “Times are tough at the moment and bills must be kept affordable for essential services like water.
“In setting out our proposed pricing structure for the next five years we will ensure that there are no surprises for those taking care of all-important family budgets.
“As we work hard to deliver affordable water we are facing rising costs, such as business rates that are anticipated to increase by up to �33 million a year, and a mounting electricity bill to keep the water flowing to customers' taps.
“We have undertaken our biggest-ever consultation with customers and community representatives, and as a result I am confident that we have struck the right balance between keeping water affordable, maintaining high quality services and investing for the future.”
The proposed average household bill in 2010 will be �362 and will rise to �373 by 2015.
Ofwat will give its initial response to Anglian Water's plan on July 23. Its final decision on the outcome of the submission is due to be announced on November 26.
Welcoming the proposals, Deborah Cadman, chief executive of the East of England Development Agency (EEDA), said: “The news today of Anglian Water's plan to invest nearly �2.3 billion over the next five years is great news for our economy.
“Our region is well-placed to lead the UK economy out of recession and EEDA is working with partners locally, regionally and nationally in order to ensure continued investment throughout the downturn.
“The East of England's competitive position depends on it being able to attract investment as well as people and businesses, and today's announcement gives further confidence to plan for recovery.”