East of England: Anglian Water proposes inflation rate price cap
- Credit: Archant
Anglian Water is proposing that its price rises should be capped at the rate of inflation for the five years up to 2020.
Controls imposed by industry regulator Ofwat include limits on the prices that water suppliers charge their customers, taking into account the level of investment required for companies to meet their environmental and social obligations.
Prices are set every five years, with the next settlement ? covering the period from 2015 ? due to be announced next year.
Following a major consultation with customers earlier this year, named “Discover, Discuss, Decide”, Anglian Water has set out its initial proposals for the five-year term.
It says that, with efficiencies, it should still be able to spend more than £2billion on maintaining services and investing in areas that matter most to customers, such as reducing leaks, extending metering and helping them to save water.
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Customers are now being invited to say if they feel the proposals get the balance right before final plans are submitted to the regulator.
Peter Simpson, Anglian Water’s managing director, said: “We can’t control inflation but feel its impact as much as our customers, so we are making a commitment that, as long as our regulator agrees, bills won’t rise by more than inflation.”
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He added: “We realise that customers would prefer no increase in their bills at all, but the reality is we need to spend money on essential equipment and maintenance, to help prevent flooding and pollution, and of course we must cope with the challenges of a growing population and a changing climate.”
The proposals can be viewed at www.discoverdiscussdecide.co.uk .