Welsh Water bills to stay below inflation

Welsh Water has today confirmed that its average household bill for 2014/15 will increase below the rate of inflation for the fifth consecutive year.

In its half-year financial report, published today, Welsh Water also announced half year profits of £32m from £25m in 2012.

It has no shareholders which means any profits are put back into the business.

The company also revealed it had invested £178 million in capital projects in the six months to September 2013 – an increase of £25 million compared to 2012 and said it planned to invest £500 million over the next 18 months.

According to Welsh Water, this level of investment has been made possible due to the company reducing its own operating costs by 5 per cent since 2010.

Chris Jones, chief executive of Welsh Water, said:  “We will build the trust of our customers by offering consistently high quality service and good value for money.  Many of our customers are finding it tough to make ends meet and we are committed to keeping our own costs as low as possible and to help even more of our most disadvantaged customers through our range of social tariffs.

“As we have no shareholders we are returning additional benefits to customers – including reduced bills, social tariffs and accelerated investment –  to a value of £140 million in the five years to 2015.”