Water companies are pleading with regulators to let them raise bills
Britain’s struggling water companies are pleading with regulators to let them raise bills after being warned they will be forced to pay extra tax following the budget raid.
The industry has estimated that all water companies in England and Wales will pay a total of £400 million extra over five years.
Water groups have warned that if costs are not passed on to customers, salary caps or recruitment freezes could be imposed, the Sunday Times reports.
The watchdog will decide on December 19 how much water companies can charge for the next five years.
Concerns: Water groups have warned that if costs are not passed on to customers, salary caps or hiring freezes could be imposed
DIY INVESTMENT PLATFORMS
A. J. Bell
A. J. Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund trading and investment ideas
interactive investor
interactive investor
Invest for a fixed amount from € 4.99 per month
Sax
Sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account fees
Affiliate links: If you purchase a product, This is Money may earn a commission. These deals have been chosen by our editors because we believe they are worth highlighting. This does not affect our editorial independence.