Ofwat: Customers' Bills To Be Reduced To Reflect Performance Penalties On Water Sector Companies

(RTTNews) - Ofwat has published its annual Water Company Performance Report. The net sector underperformance penalty companies reported to Ofwat for 2023-24 amounts to 157.6 million pounds. As a result, customers will be charged less than they otherwise would have been in 2025-26. The exact amount to be returned to customers will be finalised in December 2024.

"Companies must implement actions now to improve performance, be more dynamic, agile and on the front foot of issues. And not wait until the government or regulators tell them to act," Ofwat CEO, David Black said.