Thames Water Utilities Ltd, the largest drinking water and wastewater management services company in UK, sought the permission of Oftwat to raise prices. The company asked its regulator to allow the company to increase bills by £29 per household during 2014-15, and to spread the increase for over a year.
The company justifies its decision by pointing out to the increases in Environment Agency charges. The high costs associated with the construction of the Thames Tideway Tunnel was also used as a justification.
Oftwat is set to give its permission or junk the proposal in three months.
Thames Water, owned by Kemble Water Ltd, was a consortium formed in late 2006 for the purpose of purchasing the utility company by Australian-based Macquarie Group through European Infrastructure Funds. Thames Water claims to be the second cheapest provider of water and sewerage services in the country.
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