Yorkshire Water to limit bills for six years
- 29 November 2013
- From the section Leeds & West Yorkshire
Water supplier Yorkshire Water has said it will increase its bills to customers only in line with inflation for the next six years.
The firm said it had negotiated an increase of inflation plus 1.6% with the water regulator Ofwat in 2009.
But officials at the company said they would only increase bills by the rate of inflation for 2014/15.
Bills between 2015 to 2020 would be "at this lower level", a plan it said it would fully publish next Monday.
The firm said that it had struck a deal with the water industry regulator in 2009 during the five-yearly period for the inflation plus 1.6% increase.
'Pressures on households'
But senior officials at the company claimed that "in response to the financial pressure that households in Yorkshire are facing" it was restricting the rise.
Richard Flint, the chief executive of Yorkshire Water, said: "Over the last eighteen months, we have listened to the views of more than 30,000 customers to help shape where we invest over the next five years, and how that will impact on customer bills.
"We understand the pressures on households and that's why we're planning to keep bills in line with inflation for the next six years.
"This is a challenging plan that we are confident we'll deliver through prudent financial management, sharing company efficiencies with customers and by reducing our returns to investors."
A spokeswoman for the Consumer Council for Water in the north said: "Customers on low and fixed incomes struggle to keep up even with small bill increases and this will be of particular benefit to them."