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Average bills press statement 2024/25

Following the announcement from Water UK regarding new charges from water companies for 2024/25, Ofwat’s full statement is as follows: 

David Black, Ofwat CEO said: “Over the last few years, the Covid-19 pandemic and the cost of living crisis have had a significant impact on household’s finances. 

“While water bills will vary depending on the circumstances of each household, the average increase forecasted for 2024/25 will be £27.40, equivalent to about £2.30 a month. We are very aware, for those who are already struggling, this will be a real worry. As such, water companies must do all they can to protect those who are most in need of a helping hand.  

“In Ofwat’s latest ‘Cost of Living’ research, we found that awareness of the support available, such as moving to a social tariff or on to a water meter, has continued to remain very low. We would encourage anyone who is worrying about how to pay a water bill to contact their water company and find out what schemes are on offer that could reduce bills, smooth payments, or help with debt. 

“Through covid and the cost of living crisis, some water companies have consciously kept average bills lower than they would have been. Bills have remained below inflation easing the impact on customers, while continuing to invest in the network. This year, some of that previously withheld revenue has been added to bills, taking the average to 6.1% or £27.40 a year. Even accounting for this increase, bills in real terms will be lower than they were in 2019/20.” 

ENDS 

  • Today’s annual announcement sets out charges by water companies for 2024-25 only. This is separate to the PR24 process which sets the allowed revenue cap for the 2025-30 period. 
  • Real average bill for 2024-25 is 6% lower than in 2019-20 (adjusted using November CPIH for the year preceding the relevant charging year.)
Charging Year  Real (CPIH Nov 2023 = 100)  Real: year on year change 
2024-25  £473  1.90% 
2023-24  £464  -1.20% 
2022-23  £470  -3.40% 
2021-22  £486  -1.10% 
2020-21  £492  -2.30% 
2019-20  £503  N/A 
  • Average bills are an average across all water company customers, and different customers will see different changes depending on things such as whether they move to a social tariff (i.e. a reduced tariff for those who are eligible) or if they use more or less water. 
  • Bill changes for each water company can be seen on the Discover Water website 
  • Ofwat’s latest Cost of Living research can be found here: Affordability – Ofwat  
  • More information on the help and support available for bill payers can be found here: Cost of living – Ofwat 
  • CCW’s help with your water bill page is also packed with advice and tools including its water meter calculator, Benefits Calculator and social tariff guide.
Channel website: http://www.ofwat.gov.uk/

Original article link: https://www.ofwat.gov.uk/average-bills-press-statement-2024-25/

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