September 3, 2018 / 6:38 AM / 3 months ago

UK water companies aim for steady or lower prices

Sept 3 (Reuters) - Business plans from three of England’s water companies on Monday showed average bills either being kept flat when allowing for inflation or being cut by up to 10.5 percent in the five years from 2020 to 2025.

In the plans filed with regulators, United Utilities Group Plc said it would cut average bills by 10.5 percent in real terms between 2020 and 2025, Severn Trent Plc said it would reduce prices by 5 percent and peer Thames Water said its bills would be flat.

The plans follow water industry regulator Ofwat’s modified price review 2019 methodology in July, requiring water suppliers to be more transparent about their dividend policies, executive pay and other issues. (Reporting by Muvija M in Bengaluru; editing by Patrick Graham)

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