Water regulator Ofwat will be scrapped and replaced with a new independent body, the government has confirmed, as new plans to overhaul a ‘broken’ system are announced.
The announcement has followed a major review into England and Wales’ water sector, which found a ‘broken regulatory system’ has allowed water companies to profit at the expense of British people, rather than investing in water infrastructure. You may recall that back in December, it was announced that water bills would rise by 36% on average over the next five years, leaving many households feeling increased financial pressure.
