Another day another U-turn from the regulators
Despite only 24 hours ago suggesting that the average household water bill in the UK would fall by £14 the regulator has performed a massive U-turn and ruled that prices will, on average, fall by just three pounds in real terms. There is no doubt that the water companies in the UK have placed significant pressure on Ofwat to reconsider the initial suggestion that the average UK water bill should fall by £14 year.
As a consequence of this pressure, it seems as though a number of people in the UK will actually see their water bills rise and there is concern that yet again a chance to at least control the power of the utility companies in the short term has again been missed. It would seem that a compromise has been reached with consumer groups, water companies and the regulator with the unions also concerned that the proposed reduction in water charges would have led to significant job losses across the sector.
The difference in pricing policies across the UK is significant with some bills falling by 7% and others actually increasing by 13% before the impact of inflation is taken into account. Unfortunately, early hope of assistance for UK consumers and UK businesses has disappeared over the last few hours.
Share this..
Related stories
British Airways gets tough with cabin crews
British Airways has taken a very tough stance with cabin crews who are threatening to go on strike this week over changes in working practices. Historically British Airways cabin crews have received discounts of up to 90% on their air travel costs but the company is suggesting that those who take strike action next week may well be stripped of their perks. This is the latest development in the...
Read MoreLearn to budget or face financial ruin!
Only last week we saw the disappointing news that more and more people in the UK are now using their credit cards to pay their household monthly bills. This comes at a time when UK credit card interest rates are at ridiculous levels, often in excess of 20%, and more and more people are struggling to cover their monthly obligations. There is a need for all of us to learn to budget otherwise we coul...
Read MoreIs a government backed infrastructure bank on the way?
There would appear to moves within the UK government to introduce a "government backed infrastructure bank" which will be used primarily to raise funds for projects in the public sector. A new Treasury specialist unit has been set up to look at the infrastructure in the UK and identify large-scale projects in the utilities, transport, waste and the telecom sectors. However, there is some dispute a...
Read MoreMortgage lenders decide to pass on base rate cut
It has been announced that the main mortgage lenders in UK have responded positively to further government pressure regarding mortgage rates. The Nationwide, HBOS, Royal Bank of Scotland and Northern Rock will each cut their variable lending rates by 1.5% although this will not kick in until 1 December. Lloyds TSB and the Abbey have already announced their plans to reduce rates as the pressure on...
Read MoreDavid Blunkett suggest Labour need a miracle
David Blunkett has today stepped out of the shadows to suggest that the Labour Party needs a miracle to win the next election. It is unclear as to whether this is the start of a new strategy by Labour Party, to place themselves as underdogs, or indeed a personal comment from David Blunkett, but whatever the case it has caught the attention of the political press. While the voting polls in the U...
Read More