'Truly frightening' that water companies can't meet investment targets, say river campaigners

📆 26/09/2023 19:18:00
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Ofwat found the industry had spent just 73 per cent of the funds available, raising fears that it doesn't have the capacity the build the much bigger projects needed in future

Mr Neasham and other campaigners have been pushing for the industry and ministers to move even faster.

The report adds: “Given the step up in investment that is likely to be required for the 2025-30 period we expect companies to improve their delivery capabilities over the next two years”. Following the publication of the performance report, which showed 12 companies failing to hit their targets, Ofwat announced that £114m would be returned to customers through lower bills. Five companies have been permitted to charge more as a reward for exceeding targets, with the rest paying penalties.

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