In the next five years, water bills will rise by 36%, according to Ofwat.

Today, outside the High Court, a group of protesters gathered to voice their opposition against the recent decision to bail out Thames Water. This decision has caused quite a stir as it gives water companies the green light to increase their bills by over a third. Many are outraged, with one person already labeling it a "bloody disgrace". With Christmas just around the corner, this news feels like a dagger in the heart for the public.

According to estimates, households in England and Wales can expect a rise of £31 per year in their water bills over the next five years. This is significantly higher than the expected average of £20 per year. In total, this means that the average bill will increase by a whopping £157 or 36%, on top of inflation, by the year 2030. Surprisingly, water companies had actually been pushing for a 40% increase, so this decision is slightly lower than expected.

As if this wasn't enough to cause an uproar, over 60,000 homes in Hampshire are currently without water due to a "technical issue" at a Southern Water supply works. This only adds fuel to the fire as many water companies are already facing criticism for polluting waterways and not investing in proper infrastructure. However, the regulator Ofwat has defended their decision, stating that the extra money will go towards a £104 billion upgrade of the sector, promising significant improvements for customers and the environment.

Of course, this increase in bills is not being taken lightly. Many are questioning why customers should have to pay for the mistakes and lack of investment by water companies. Despite this, Ofwat's chief executive, David Black, believes that this 36% rise presents an opportunity for water companies to regain the trust of their customers. He hopes that they will use the additional funds to improve their environmental record and enhance their services.

Black also emphasized the need for a cultural and performance transformation within these companies. Ofwat will closely monitor and hold them accountable for their investments and improvements. They have also taken into consideration the struggles that some customers may face with this increase in bills and are urging companies to provide support for those who may struggle to pay.

Despite the difficult time this may be for many, Ofwat assures that they have thoroughly examined all funding requests to ensure they provide value for money and real improvements. In fact, they have already removed £8 billion of unjustified costs compared to the companies' initial requests. Additionally, their approach to setting a rate of return has saved customers £2.8 billion.

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