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08/11/2013
Thame's Water Additional Price Increase Is Turned Down
Ofwat has turned down Thames Water's application for an additional price increase for 2014-15.
Within the three month timescale for assessing the application, Ofwat found that the evidence the company submitted did not justify its proposed £29, or 8%, additional increase in customers' bills.
Ofwat's chief regulation officer Sonia Brown said: "We said we would challenge Thames' application, in the interests of customers. We did just that and on the evidence provided we are not convinced that an extra bill increase is justified.
"This is Ofwat's final decision on this application. Thames Water now has the right to trigger an appeal to the Competition Commission."
(CD/JP)
Within the three month timescale for assessing the application, Ofwat found that the evidence the company submitted did not justify its proposed £29, or 8%, additional increase in customers' bills.
Ofwat's chief regulation officer Sonia Brown said: "We said we would challenge Thames' application, in the interests of customers. We did just that and on the evidence provided we are not convinced that an extra bill increase is justified.
"This is Ofwat's final decision on this application. Thames Water now has the right to trigger an appeal to the Competition Commission."
(CD/JP)
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