Companies to Return Millions of Pounds to Bill Payers
UK water regulator Ofwat has confirmed that the majority of water companies will have to give back millions of pounds to customers in the form of discounts on their water bills. This comes after the companies failed to meet key performance targets, including reducing pollution, leakages, and supply interruptions.
Thames Water to Return £74 Million to Customers
The highest amount to be returned will come from Thames Water, which will give back a whopping £74 million to its 15 million customers. Earlier this year, the struggling company faced crisis talks over its £14 billion debt, but managed to secure emergency funding. However, the watchdog has stated that Thames Water still has significant financial issues to address.
Anglian Water and Dwr Cymru Customers to See Discounts
Anglian Water customers will see over £27 million taken off their bills, while Dwr Cymru customers will receive approximately £24 million in discounts.
Discounts Applied as Lower Bills
The discounts will be applied from next year as lower bills, rather than one-off payments. Some companies, however, will be allowed to charge more to customers after improving their performances.
Other Companies to Recover More Money from Customers
Companies that exceeded their targets, such as Portsmouth Water, Severn Trent, South Staffs Water, and United Utilities, will be able to recover more money from their customers, potentially leading to higher bills for those customers.
How to Cut Water Costs
While customers cannot switch water companies, there are still ways to save on water bills. These include reducing shower time, turning off the tap while brushing teeth or washing dishes, fixing leaks, using appliances only when fully loaded, and using aerated showerheads. Many water companies also offer free water-saving devices to help customers lower their bills.
Conclusion
Millions of UK households are set to benefit from discounts on their water bills next year, as water companies are required to give back millions of pounds to customers. While some companies will see their customers' bills go up, there are still ways for individuals to lower their water costs.
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