Ofwat tells Hatfield water firm to cut prices
A WATER company serving residents from Times Territory has been told to reduce its prices within the next five years by the national regulator.
Ofwat has published its final decisions on what water and sewerage companies can charge customers between 2010 and 2015.
Among the decisions, Veolia Water Three Valleys was told it will have to cut its charges by six per cent within that period.
It means the company’s average annual bill could fall from �156 in 2010 to �146 by 2015.
Veolia, based in Tamblin Way, Hatfield, initially proposed to increase prices, but that was rejected by Ofwat as it sought to keep household bills broadly flat across England and Wales.
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But Veolia’s managing director Andrew Smith questioned what impact the cuts would have on the quality of water.
“We know from speaking to our customers that while price is important, their main concerns are that we continue to provide a reliable supply of high quality water in the future,” he said.
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“For us to accept this determination, we must be certain that it is in the best interests of customers now and in the longer term.”