British water companies bracing for backlash

LONDON – Water companies are braced for a backlash this week when the main listed groups report annual profit figures expected to top £1bn, with a sizeable proportion of that figure gushing to shareholders in the form of dividends.

Ofwat, the water industry regulator, said average water and sewerage bills will rise by 5.8 per cent this year, with some companies able to increase prices by 8 per cent or more under the regulatory framework set down in 2004. And with companies now preparing their business plans for the next regulatory review period, which comes into effect late next year, the pressure is mounting.

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Source : The Telegraph