To help fund Thames Water’s £5.5 billion super-sewer construction project
Households face rises in their water bills of 17 per cent over the next five years despite Thames Water announcing a £605million profit.
The rise will mean the average annual household water bills will go from £283 to £331 between next year and 2015.
Thames Water's Chief executive David Owens said, "Decades of under-investment have kept our bills artificially low. Unfortunately they must rise so we can fund vital upgrades."
The company is currently undertaking a programme of replacing worn-out Victorian mains and plans to spend £5.5billion constructing two 'super-sewers' to remove raw waste from the Thames.
Owens added that the credit crunch had hit Thames Water, citing customers failing to pay their bills as another reasons for the rise.
June 26, 2009