United Utilities plans to cut household bills by up to 2.3% over five years

27th Jun 2014 07:49

United Utilities, the UK's largest listed water company, has submitted a revised 2015-20 business plan to regulators that includes a proposal to cut average household bills by as much as 2.3% in real terms over the period.The firm's initial plan had included proposals to cut bills by a lesser 1.7%.The company said its new five-year plan means that customers would "benefit from below inflation growth in average household bills for the decade to 2020"."Our plan reflects the views of customers on service and affordability, it delivers a paced investment programme to meet our environmental obligations and it provides an appropriate return for investors."After an initial plan was submitted to Oftwat in December 2013, United Utilities has made revisions following discussions with the regulator, its Customer Challenge Group and other stakeholders.Ofwat is expected to publish its draft determinations in August.During 2015-20, the water group plans to spend a total of £6.6bn, including capital expenditure of £3.75bn, similar to the first plan.BC