U.K. Regulator Raises Price Cap for Businesses' Water Bills by 0.49%
28 Febbraio 2022 - 9:18AM
Dow Jones News
By Jaime Llinares Taboada
U.K. water industry regulator Ofwat said Monday that it is
raising the price cap for the business retail market by 0.49% to
cover bad debt costs that arose because of the pandemic.
The increase is higher than the 0.31% previously anticipated
after Ofwat incorporated bad debt costs reported by suppliers
during fiscal 2020.
The rise, which doesn't affect households, will take effect in
April and last two years. A small-business customer with an average
annual bill of 500 pounds ($670.8) could be paying up to GBP2.45
more a year, Ofwat said.
"Implementing this small and temporary upward adjustment to the
business retail price caps aims to protect business customers,
including by maintaining strong incentives on retailers to keep bad
debt costs as low as possible," Business Retail Market Director
Georgina Mills said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
February 28, 2022 03:03 ET (08:03 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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