Greedy water companies are set to announce a surge in profits on the back of soaring bills.
The news comes just days after industry regulator Ofwat gave suppliers permission to increase prices by yet another 3.5 per cent in April.
Customers now face average annual bills of £388, a rise of £13.
Industry analysts expect three of Britain’s biggest privatised water firms to announce combined profits of nearly £1.5billion in May.
United Utilities, which supplies water in the North West, is forecastto have made £627million in the year to March, up from £594m. South West Water’s owner Pennon is due to unveil profits of £273m, up from £268m.
Earnings at Severn Trent, which supplies the Midlands, are expected to hit £525m, up from £504m.
Water firms say price increases will help pay for an investment programme costing £25m between 2010 and 2015.
http://www.mirror.co.uk/news/uk-news/water-companies-set-for-15billion-profit...
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