Guest Blog from Navin Shah (Labour), London Assembly member for Brent and Harrow
After
months of campaigning, the water regulator Ofwat has announced it will order Thames
Water to slash Londoners’ bills by 5% over the next 5 years.
For
the many Londoners struggling to cope with years of stagnating wages and rising
living costs that announcement will be a great relief. Water isn’t one of those
bills you can avoid, nor do we have a choice about our supplier. For too long
water companies have had customers over a barrel – there was nowhere to turn
when prices rose.
The
5% reduction will, on average, mean a £17 cut to bills in Brent and Harrow.
Whilst that’s encouraging, water companies are still allowed to increase their
overall prices with inflation. That will mean people could quite quickly end up
paying more.
The
Mayor of London has taken his eye off the ball in not taking on the utility
companies that are squeezing Londoners’ pockets, we on the Assembly will
continue to be vigilant to ensure Londoners get their very best value from
their water and energy bills.
Thames
Water was one of the only water companies in the country to propose price
rises, in part it said to fund the new Thames Tideway Tunnel. Whilst the so
called super-sewer is important, Ofwat rightly recognised that the project
cannot be funded by squeezing yet more out of Londoners' pockets – something I
totally endorse.
