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| Water bills to fall by 5% by 2020, Ofwat says | |
| (35 minutes later) | |
| Household water bills in England and Wales will fall by an average of 5% - not including inflation - by 2020, the regulator Ofwat has ruled. | Household water bills in England and Wales will fall by an average of 5% - not including inflation - by 2020, the regulator Ofwat has ruled. |
| This would see average bills fall by about £20 from £396 to £376. | This would see average bills fall by about £20 from £396 to £376. |
| The regulator considered plans submitted by the 18 water and sewerage companies outlining proposed costs and prices. | The regulator considered plans submitted by the 18 water and sewerage companies outlining proposed costs and prices. |
| Companies will invest more than £44bn in the next five years to improve services, Ofwat said. | Companies will invest more than £44bn in the next five years to improve services, Ofwat said. |
| "With bills held down by 5% and service driven up over the next five years, customers will get more and pay less," said Cathryn Ross, Ofwat chief executive. | "With bills held down by 5% and service driven up over the next five years, customers will get more and pay less," said Cathryn Ross, Ofwat chief executive. |
| The new charges will come into effect in April 2015. | The new charges will come into effect in April 2015. |
| For water and sewage charges, Anglian customers will see the greatest percentage drop in yearly bills, down 10% to an average of £390 by 2019-20. | For water and sewage charges, Anglian customers will see the greatest percentage drop in yearly bills, down 10% to an average of £390 by 2019-20. |
| Northumbrian customers will see the smallest change in their bills, dropping 1% to £382. | Northumbrian customers will see the smallest change in their bills, dropping 1% to £382. |
| Severn Trent customers will have the cheapest yearly bills, at £316. | Severn Trent customers will have the cheapest yearly bills, at £316. |
| Companies have two months to accept Ofwat's decision, or seek a referral to the Competition and Markets Authority. | Companies have two months to accept Ofwat's decision, or seek a referral to the Competition and Markets Authority. |
| The regulator based its decision on plans submitted by water companies in December last year. | |
| Ofwat looked at how the firms planned to keep bills down and improve service levels. |