Thames Water, a major water supplier in the United Kingdom, has announced plans to significantly increase water bills for its customers over the next five years to tackle leaks, pollution, and debt issues.
The company’s revised business plan, approved by water regulator Ofwat, includes a £21.7 billion investment in infrastructure improvements. This upward revision from the initial £18.7 billion estimate is expected to lead to bill increases of up to 44% by 2030.
With inflation factored in, these increases could reach 60.3%, resulting in average annual bills of around £755 for Thames Water’s 16 million customers.
Thames Water’s financial struggles have prompted criticism from consumer groups, with concerns raised about the impact on customers already facing financial difficulties. The GMB union has called for shareholders to contribute to the company’s financial recovery.
Meanwhile, Thames Water’s CEO, Chris Weston, defended the plan, emphasizing its focus on customer priorities and environmental benefits. However, only 16% of Thames Water customers consider the proposed bill increases to be affordable, according to a survey by the Consumer Council for Water.
