Business
Water bills to rise further for millions after appeal
Faarea MasudBusiness reporter
Getty ImagesMillions of households in England will have to pay higher water bills than previously announced after the UK’s competition body agreed to let five water companies increase charges.
The companies – Anglian, Northumbrian, Southern, Wessex and South East – had asked for permission to raise bills by more than the amount previously agreed by the regulator, Ofwat.
They argued the rises set by Ofwat – which average 36% over the next five years – were not enough to deliver better infrastructure.
A panel appointed by the Competition and Markets Authority (CMA) has now said the bills can rise on average by an extra 3% – about £12 per year – partly due to the companies facing higher borrowing costs.
An independent group of experts appointed by the CMA said that Anglian and Northumbrian could increase their bills by a further 1%, Southern by 3%, South East by 4% and Wessex by 5%.
The five water companies serve more than 7 million household and business customers, and had asked for much larger increases to bills than the ones granted.
The group appointed by the CMA said the firms had asked to increase bills to raise a total of £2.7bn in extra revenue, but it had allowed only 21% of this, equating to an additional £556m.
“We’ve found that water companies’ requests for significant bill increases, on top of those allowed by Ofwat, are largely unjustified,” said Kirstin Baker, who chaired the group of experts.
“We understand the real pressure on household budgets and have worked to keep increases to a minimum, while still ensuring there is funding to deliver essential improvements at reasonable cost.”
The CMA’s proposals are provisional and Ofwat and the water firms have a chance to respond before the CMA’s final conclusion in a few months.
Water companies finance much of their investment plans with borrowed money. The CMA said part of the reason it had allowed a rise was because interest rates on those loans have risen, making it more expensive for the firms to carry out their plans.
Troubled firm Thames Water also appealed for higher price rises, but has deferred its case until late October while it tries to fix a rescue bid.
Water firms have been told by authorities to fix outdated infrastructure which has been found to be the cause of much river and water pollution. The Environment Agency said serious pollution incidents by water firms went up by around 60% in a year.
Water Minister Emma Hardy said she expected every water company to “offer proper support to anyone struggling to pay”.
Citizens Advice’s Anne Pardoe said: “Ramping up water bills, when people up and down the country are already rationing showers and cutting down on laundry, is going to stretch budgets beyond breaking point”.
She called for the introduction of a national social tariff, in order to help people from low-income households pay for essential bills. Social tariffs are offered by some companies offering services such as broadband and energy, and allow those on benefits access to cheaper bills, although criteria differ from firm to firm.
The CMA’s findings will lead to an additional increase on average of “£1 per household, per month” for customers of the water firms that appealed, said David Henderson, chief executive of Water UK which represents water firms.
When asked by the BBC’s Today programme why the firms themselves could not pay for the needed upgrades, Mr Henderson said shareholders had already invested a lot of their own money, and eight water firms had made a loss in 2024.
“They [investors] don’t have to put money into this sector, they don’t even have to put money into this country,” he said, adding that many “haven’t made a profit in years. This isn’t an industry awash with cash. It is an industry providing vital infrastructure”.
Defense Secretary Pete Hegseth previously threatened to remove the firm from the department’s supply chain.
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Stocks To Watch: Vishal Mega Mart, Axis Bank, Jio Financial Services, Hindalco, Vedanta, And Others
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Stocks to watch: Shares of firms like Vishal Mega Mart, Axis Bank, Jio Financial Services, Hindalco, Vedanta, and others will be in focus on Friday’s trade
Stocks To Watch on February 27
Stocks to Watch Today, February 27, 2026: Indian equities are likely to open on a cautious note amid mixed global cues. As of 7:41 AM, GIFT Nifty futures were trading 87 points lower at 25,549.
Vishal Mega Mart: Promoter Samayat Services is reportedly looking to offload up to a 6.5 per cent stake via a block deal. The transaction is valued at around Rs 3,507.5 crore, with a floor price of Rs 115 per share.
Axis Bank: The private sector lender has approached the Reserve Bank of India (RBI) seeking approval to retain a higher stake in its subsidiary, Axis Finance, with only limited dilution proposed.
Netweb Technologies: The company has partnered with Vertiv to develop advanced liquid-cooled rack solutions for AI-focused data centres in India.
Jio Financial Services: The company has infused Rs 2,000 crore into its subsidiary, Jio Credit Ltd, to fund business expansion and growth plans.
Hindalco: The acquisition of AluChem Companies, Inc. through Aditya Holdings LLC has been temporarily delayed after the CFIUS review in the US was paused due to a partial federal government shutdown.
Info Edge: The board has approved a commitment of Rs 250 crore to the newly launched B8 Fund I, a growth-stage fund aimed at strengthening its presence in India’s startup ecosystem.
Reliance Communications: The CBI has reportedly registered a fresh case against Anil Ambani and the company for allegedly defrauding Bank of Baroda of over Rs 2,220 crore between 2013 and 2017.
Ircon International: The Patna High Court has dismissed the company’s writ petition related to VAT assessments for the Ganga Bridge Project (FY11–FY17), upholding a demand of Rs 108.75 crore. Of this, Rs 27.39 crore has been paid, leaving an outstanding Rs 81.36 crore plus interest.
NBCC: The state-run firm has secured project management consultancy orders worth about Rs 775.27 crore (excluding GST) from the Delhi Development Authority (DDA) for redevelopment projects in New Delhi.
MSTC: The company has emerged as the lowest bidder for a Coal India tender to act as an external service provider for non-regulated sector (NRS) linkage auctions for three years.
Onesource Specialty Pharma: The NSE and BSE have issued no-objection letters for the proposed merger and arrangement involving Steriscience Specialties, Brooks Steriscience and Strides Pharma Services.
Vedanta: ICRA has assigned an ‘ICRA AA’ rating to the company’s NCDs with a ‘Watch Developing’ outlook. It also reaffirmed the long-term rating at ‘ICRA AA’ (Watch Developing) and the short-term rating at ‘ICRA A1+’.
BPCL: The oil marketing company has incorporated a wholly owned subsidiary in Singapore — Bharat Petroleum Global Energy Services — to set up a trading desk for crude oil, natural gas and petrochemical products.
Brigade Enterprises: The company has partnered with Primus Senior Living to develop three senior living communities in South India, with an estimated gross development value of Rs 750 crore.
Apeejay Surrendra Park Hotels: The firm has signed a management agreement with Luxmi Tea Co. to operate a 100-room premium hotel under “The Park” brand in Siliguri, West Bengal.
GMDC: The company has signed an MoU with NTPC to jointly explore opportunities in coal and lignite gasification, along with related downstream projects.
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February 27, 2026, 08:21 IST
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Consumer confidence has fallen in a blow for retailers as customers veer away from big-ticket purchases, figures show.
GfK’s long-running Consumer Confidence Index dropped three points to minus 19 in February to a level last seen in November, despite easing inflation.
The decline was mainly driven by weaker perceptions of personal finances – looking back over the last year and ahead to the next 12 months – which both fell by four points.
The major purchase index – an indicator of confidence in buying big-ticket items – also fell by four points, to minus 14.
Expectations for the general economy over the next 12 months remained unchanged at minus 31 – the same as the score a year ago.
Meanwhile, a measure of confidence in saving money, which is part of the survey but does not contribute to the overall score, fell seven points to 21 – nine points lower than last year.
Neil Bellamy, consumer insights director at GfK, said: “Fewer people say that now is a good time to make major purchases and fewer consumers intend to save money.
“Although the rate of inflation is easing, prices continue to rise, forcing many households to prioritise day-to-day spending over longer-term needs.
“Views on the broader economy remain firmly in negative territory, with consumers anticipating only limited economic growth this year.
“Unemployment has now reached its highest level in nearly five years, and this is increasing concerns about job security, particularly given the backdrop of weak wage growth. With fewer entry-level opportunities available, those on lower incomes are already feeling the strain, and this trend risks undermining the typically more optimistic outlook held by younger age groups.”
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