soaring water bills to revolutionize infrastructure, says regulator

Britain's water regulator, Ofwat, has approved an average 36% hike in water bills over five years to fund extensive investment in the sector. This decision aims to address infrastructure neglect, highlighted by frequent sewage spills, and promises a £104 billion upgrade.

Britain's water regulator, Ofwat, has announced a significant increase in water bills, allowing for a 36% rise over the next five years. This decision permits greater investment in the country's crumbling water infrastructure and aims to rectify persistent issues.

The increase granted by Ofwat is less than the 44% rise requested by water companies but exceeds the 21% initially forecasted in July. The British government urged this move to tackle the ongoing issues in the water sector, which have angered the public due to frequent sewage spills.

Critics argue that private companies have historically ignored infrastructure maintenance in favor of shareholder dividends. Meanwhile, Ofwat claims past regulatory priorities on maintaining low consumer bills have limited investment capabilities. The decision is set to result in a £104 billion upgrade to reduce sewage spills, with provisions to return unspent funds to customers.

(With inputs from agencies.)