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Media centre
Ofwat announced today that all the water and sewerage companies in England and Wales have published summaries of their draft business plans. The plans include new price limits the companies believe they will need for the period 2005-10. Philip Fletcher, Director General of Water Services, said: "These draft plans provide vital information to inform decisions that will need to be taken before we finalise price limits next year. We will be scrutinising these very carefully. It is early days in the process and we need time to review the evidence provided. "I will set price limits as high as they need to be to enable each company to finance and to run its business efficiently. At the same time customers of these monopoly businesses must pay no more than is necessary." On average, companies propose that household bills need to rise by more than 30% in total over the five years 2005 to 2010. But there are wide variations between companies. We will be advising Ministers on the implications of the proposals to improve the environment and drinking water quality for customers. Each company will reassess its needs and submit a final business plan in April 2004 after receiving firm guidance on the environmental and water quality programme required by Government and feedback from Ofwat on its draft business plans. Note to Editors: 1. The Director General of Water Services is the economic regulator of the water and sewerage companies in England and Wales. He exercises his powers in a way that he judges will allow them to carry out their functions properly, and finance them. Customers' interests are represented by WaterVoice. 2. A table setting out each company's proposed price limit, and the impact on their average household bill, is attached. 3. A summary of each company's draft business plan and tables comparing the companies' proposals for price limits will be available on our website, www.ofwat.gov.uk today. 4. Ofwat will be publish draft price limits for consultation in July 2004, and final price limits in November 2004. 5. In a joint statement issued on 12 August, regulators for the water industry and the Government set out some key questions to be considered by contributors to the water price review, and invited responses by 5 November. The joint statement is available on the Ofwat website. MEDIA ENQUIRIES TO OFWAT PRESS OFFICE ON: 0121 625 1416/1496/1442 Out of hours enquiries to pager: 08700 555 500 water 503/509. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk  | ||||||
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