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Ofwat today published final price limits for Yorkshire Water for the five years from 1 April 2005. Effect on customers' bills
Benefits The price increases will enable Yorkshire Water to invest nearly £1.5 billion to:
Philip Fletcher, Director General of Water Services, said: "These price limits are as much as Yorkshire Water needs to continue to provide high quality services, but no more than is necessary. This is to protect the interests of customers. "We have considered carefully the comments made by customers, the company, environmental groups and others, and we have taken into account guidance from Ministers following the announcement of our draft decisions in August. "To protect the progress the company has already made on customers' services and the environment, and to deliver further improvements, bills will need to rise. "Although the increase is higher than our draft decision, it is still lower than the company asked for. We have challenged the company's costs to ensure customers continue to receive value for money from their water and sewerage services. This means that by 2009 customers will only be paying on average 7% more, before inflation, than they were in 1999. "The increase will enable the company to invest more in pipes, sewers and treatment works in order to safeguard supplies for the future. Yorkshire Water will also be able to continue to play its part in protecting the environment on a long-term, sustainable basis. The benefits they will deliver include the water quality and environmental improvements that Ministers wanted. "We have listened to customers, WaterVoice and Yorkshire Water who wanted to see more investment to deal with the scourge of sewer flooding. These increases mean the company will be able to resolve or alleviate, by 2010, all known high risk problems identified in its plan where overloaded sewers cause flooding inside properties. It will also be able to make further progress in dealing with external sewer flooding." Notes 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. 2. The final determinations document, 'Future water and sewerage charges 2005-10' - Final determinations', will be available from the Ofwat library on 0121 625 1373 and on the website at www.ofwat.gov.uk 3. The figures quoted in the attached tables are before inflation. Average household bills in both tables are presented in 2004-05 prices. 4. Although this marks the end of the periodic review, companies will have until 1 February 2005 to ask the Director General to refer the price limits he has set to the Competition Commission for redetermination. Media enquiries to Ofwat Press Office on : 0121 625 1416/1496/1442. Out of hours enquiries to pager: 08700 555 500 water 503/509.  | ||||||
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