Water bill cut goes ahead
AVERAGE bills for Anglian Water's residential customers are set to fall by �28 over the next five years.The regional water company said yesterday that it had accepted a price determination by industry watchdog Ofwat after previously protesting against the cut.
AVERAGE bills for Anglian Water's residential customers are set to fall by �28 over the next five years.
The regional water company said yesterday that it had accepted a price determination by industry watchdog Ofwat after previously protesting against the cut.
At the same time, it announced that its chief executive, Jonson Cox, would be standing down from his role as part of a “planned succession programme”.
Ofwat said in July that the company must cut its bills by �32 over five years from 2010 to 2015, and that it would make a final announcement in November.
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Anglian Water had called for an increase in bills of �11 over the same period. On November 26, following the submission of further information by the company, Ofwat announced that it should shave a slightly lesser amount of �28 from its bills. Mr Cox described the decision as a “harsh determination”.
Despite the cut, the water company said that it would be spending �2billion on regional infrastructure over the five year period, which starts in April this year.
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In November, the company announced plans to cut 86 jobs at its Huntingdon and Peterborough sites following the initial announcement from Ofwat on cutting its bills.
But the company also said that it would be creating 46 new jobs as part of its restructure plans in areas such as monitoring work for the Environment Agency.
While Mr Cox takes up the new role of deputy chairman of the group, Peter Simpson, currently chief operating officer, has been appointed managing director with immediate effect and will be responsible for the running of the company.
Company chairman Sir Adrian Montague said: “Over the past six years, Jonson has led the group successfully through a period of significant transformation. Our position as a leader in the water industry is a credit to Jonson's vision and leadership. The focus of the group is now firmly on our core Anglian Water business, and I welcome Peter Simpson to his new role.”