British water bills to rise by 36% in next five years to help fix broken sector [Globe and Mail, The (Toronto, Canada)]
UNITED UTIL GRP S/ADR PLC (UUGRY)
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Source: Globe and Mail, The
Chris J Ratcliffe/Reuters Log in or create a free account to listen to this article. Britain's water regulator said it would allow bills to rise by just over a third in the next five years to fund a higher level of investment than originally planned, with the aim of fixing the country's broken water sector. The average increase of 36 per cent before inflation, equivalent to a £31 ($39.18) a year increase over five years, compares to the 44 per cent average requested by companies and the 21 per cent the regulator had proposed in July. The pumping of raw sewage into rivers and seas has become a major scandal in Britain, with privatized water companies accused of prioritizing dividends over investment, leaving the infrastructure to degrade. The sector has blamed the regulator for wanting to keep bills low and the industry, saddled with tens of billions of pounds of debt, is now under pressure to fund an overhaul of pipes and treatment plants. Environmental groups, however, ha
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