INTRODUCTION TO FINANCE NEWS ONLINE

Finance News Online is a daily updated news digest covering the world of loans, finance, consumer advice and one or two other selected topics.

It is designed to be helpful, informative and provide some of the news you might not hear anywhere else!!

All articles are written by journalists commissioned especially by us.

Your Home

Water bills to rise by seven per cent
(01 March 2007)

Utility bills for water are due to go up an average of seven per cent over the next year, according to a survey by regulatory body Ofwat.

The increase, which is above the 4.2 per cent rate of inflation, equates to a rise of £20 which would take the bill for the average household to £320.

Householders supplied by South West Water bills are expected to be hit hardest of all by the new rates, with an average £44 price hike for each home.

The rises have been greeted with dismay by homeowners struggling with the effects of interest rate rises on their mortgages and the Consumer Council for Water.

Commenting on the rises Dame Yve Buckland, the chair of the Consumer Council for Water, said: "Although water costs each household less than a pound a day on average, many consumers on low and fixed incomes will struggle to keep up with these bill rises.

"Consumers will also struggle to understand the relationship between higher bills, increases in company profits, last summer's water restrictions and acknowledged recent failures in customer service."

The size of the raises was decided in 2004, with the next hike due in 2009