July 18, 2019 / 6:58 AM / 4 months ago

Ofwat calls for £12-billion boost to water network investment

FILE PHOTO: People take a walk by the water's edge at Torside Reservoir in Longdendale, Derbyshire, July 3, 2018. REUTERS/Phil Noble

(Reuters) - Britain’s water regulator on Thursday called for the country’s utilities to invest the equivalent of £6 million every day for the next five years in plans to reduce pollution and leakages in increasingly stressed UK infrastructure.

The Water Services Regulation Authority, Ofwat, said the targets of its “most far-reaching price review” ever included cutting pollution incidents by more than a third and reducing supply interruptions by almost two-thirds.

"... We are calling for extra investment of £6 million each and every day to improve the environment and provide services for a growing population. At the same time we expect to see customers' bills cut by an average of £50," Ofwat Chief Executive Rachel Fletcher said (here).

Ofwat’s proposals included an additional £12 billion, to be invested over and above business-as-usual costs and investments, to improve services for future generations including by building reservoirs, moving water to where it is needed most and protecting the environment.

Reporting by Muvija M in Bengaluru; editing by Patrick Graham

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