30/05/08
The Consumer Council for Water last week called upon water companies to "give more back" to customers. Within the regulatory system that sets water prices, companies have succeeded in doing exactly that.
Water companies are required to meet service and environmental standards as efficiently as possible. If they succeed in keeping costs below the level assumed by Ofwat, the benefits are passed on to customers in various ways.
Indeed, today's average water bill would be £100 higher without the efficiency savings made by the companies, says Ofwat.
Water UK agrees that the industry has a duty to explain to customers what they receive and what they can expect for their money. Water companies strive to improve communication with consumers on all aspects of water services, including financial reporting.
Companies are determined to continue their drive for increased efficiency and to attract the long-term financing the industry relies upon to maintain and improve the quality of our tap water, our environment and our vital infrastructure.
Water companies prepare to report financial results for 2007-08
Contact: Barrie Clarke
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