U.K.'s water bill hike will soon happen as water companies try to ask for price increases just to cover the cost of improving services.
Ofwat Chief Executive David Black said that although they didn't fail to regulate the water industry in the U.K., water companies are still facing challenges.
UK Water Bill Hike Expected to Happen!
A glass of water is filled at a kitchen tap on August 11, 2008 in London, England. Thames Water bills are expected to have an annual rise of 3 percent more than inflation as water companies submit predicted finance plans for 2010 to 2015. Cate Gillon/Getty Images
According to BBC News' latest report, many water providers are experiencing numerous problems. Aside from being criticized due to plugging leaks and sewage spills, many of them are also heavily in debt.
One of these water companies is Thames Water, which is at risk of being taken over by the government. To solve their problems, these water providers are asking for bill raise.
Specifically, Thames Water is asking for an additional $1.3 billion in equity for infrastructure upgrades, as reported by Reuters.
"We expect companies will request increases in bills at the next price review to fund large investment programs," said Black. He added that these programs are expected to offer environmental improvements.
George Eustice, the former environment secretary, said that the water bill price hikes are expected to be implemented around 2025.
On average, each household could experience more than a $53 increase in their water bills.
How to Save Money on Water Bill
A hose pipe is used on March 13, 2006, in Knutsford, England. Thames Water the UK's biggest water company has imposed a hosepipe ban in the south of England along with five other companys. Most of England and Wales has only received a third of their average rainfall and reservoirs in the South East particularly Sussex and Kent are low for the time of year bringing increased fears of a drought this Summer. Christopher Furlong/Getty Images
If you are in the U.K., the best thing you can do is prepare for the upcoming water price hike.
Although the bill increases are expected to happen in 2025, there's a high chance that some water providers will implement them sooner.
If you want to cut your water bill to save money, here are some tips you can follow:
If your household has multiple bedrooms, the best thing you can do is switch to a water meter so you can keep track of your water consumption.
You can shorten your shower time by one minute. If all of your family members will follow this, you can definitely cut your water bill.
Some water providers offer gadgets and widgets that can help reduce your water usage.
Try asking your water company if they have discounted or social tariffs for customers on low incomes.
These are just some of the water bill-saving tips you can follow. To see more, you can click this link.
