Yorkshire Water outlines £318m investment plan

Yorkshire Water outlines £318m investment plan

Yorkshire Water is set to invest £318m in its regional operations this year as part of a major £3.8bn investment between 2015-2020.

The investment will ensure the group meets its three major challenges posed by climate change, a growing population, and ageing infrastructure.

As well as the continued investment, the firm is also introducing new water and sewerage charges which will be the second cheapest in the UK.

As of 1 April, average monthly bills for Yorkshire Water’s customers will rise broadly in line with inflation (RPI) by an average of just over 1%, or £5, to £366 per year.

Richard Flint, chief executive at Yorkshire Water, said: "It is of paramount importance for us to keep our customers’ bills fair and affordable and that’s why we are the second cheapest water firm in the UK.

"The slight increase this year has been agreed with Ofwat and is largely due to inflation and the simple fact that the price of many of the products and services we use as a company has risen.

"Along with income from customer bills, strategic borrowing will also provide a vital revenue stream to enable us to invest £318m.

“This investment will help us continue to maintain, manage, and improve crucial water and sewerage services that the public rely on.

"It is never an easy decision to increase bills but we have committed with Ofwat to keep our prices lower or approximately at the rate of inflation."

Key schemes and projects Yorkshire Water is investing in over the next five years include: