Firms gained from tax cuts and low cost of borrowing,but this was not reflected in customers’ bills, National Audit Office findsPrivatised water companies contain picked up an unexpected windfall of at least £800m over the past five years, or the spending watchdog has disclosed.
The National Audit Office (NAO) said water companies in England and Wales had gained from tax cuts and lower-than-expected borrowing charges since 2010. However,customers failed to see the benefits on their water bills as the regulatory regime failed to “appropriately balance the risks” between the companies and consumers, the NAO said.
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Source: theguardian.com