Ofwat investigating ‘rip-off’ cost of water firms’ infrastructure works
Watchdog for England and Wales looking into claims refurbishment costs are ‘breathtakingly high’ compared with other countriesThe water regulator for England and Wales, Ofwat, is investigating claims water companies are spending many times more on refurbishment projects than operators in comparable countries, leading to much higher bills, in what campaigners have described as a “rip-off”.Experts have said privatisation of water companies has led to an overinflation of the costs of building infrastructure such as sewage works, as they are less incentivised than governments to find value for money for taxpayers. They are also allowed to borrow more money based on the valuation of their assets. Continue reading...
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Watchdog for England and Wales looking into claims refurbishment costs are ‘breathtakingly high’ compared with other countries
The water regulator for England and Wales, Ofwat, is investigating claims water companies are spending many times more on refurbishment projects than operators in comparable countries, leading to much higher bills, in what campaigners have described as a “rip-off”.
Experts have said privatisation of water companies has led to an overinflation of the costs of building infrastructure such as sewage works, as they are less incentivised than governments to find value for money for taxpayers. They are also allowed to borrow more money based on the valuation of their assets. Continue reading...
