Household Bills Set to Increase with Water Price Rise
The price of water is set to increase as announced today by Ofwat the water regulator, to accommodate inflation.
Many households across the country will see as a result, a rise in their water bills, adding further pressure to the cost of living in the current economic climate.
This announcement also follows the statement by Ofwat in 2009 where they claimed water bills would remain broadly flat until 2015.
The rate of inflation of almost five percent has meant customers will pay more, while water companies are set to profit, the Consumer Council for Water showed.
“Many customers are struggling with rising household and other bills and debt is rising,” commented Dame Yve Buckland, Consumer Council for Water chair.
“We want the companies to demonstrate to customers what they are getting for their money, and also to think how they might share the benefits of this unexpected financial gain with their customers.”
The Consumer Council for Water has successfully persuaded water companies to give back £135million to customers in the form of lower prices in the past, and claim they will organise meetings to discuss a similar compromise following this recent rise.
Cut Your Household Bills
If you are worried about a rise in the cost of water make sure you carefully examine your bill to see where and when you use the most water. If you have a septic tank for example, you should not be paying sewage charges.
"Customers should not pay any more than they need to for their water or sewerage services,” continued Dame Yve Buckland.
Cutting other household bills such as food can be done by planning meals ahead of your shopping trip, this will mean you do not buy food that will be left around and not eaten, and you will not overspend.
A prepaid debit card could help you budget your monthly expenditure each month.