DWR Cymru Welsh Water has received its Final Determination from the industry regulator, Ofwat, on the company’s Business Plan for 2015-20.

The Final Determination sets the price limit on what Welsh Water and other water suppliers can charge customers for their water and wastewater services between 2015 and 2020 and also the service targets that the company are expected to deliver.

Ofwat set bills every five years based on Business Plans submitted by water companies across Wales and England.

Welsh Water’s Business Plan committed to keep average household bills at least one per cent below inflation between the next five years whilst also investing £1.5 billion in its extensive network of assets and helping customers who struggle with their bills.

The Business Plan was endorsed by 94 per cent of customers during their engagement and research programme which was overseen by an independent Customer Challenge Group.

Chris Jones, chief executive of Welsh Water, said: “As a company without any shareholders, our sole focus is on earning the trust of our customers by providing the best possible water and wastewater service at the most affordable price.

“During this challenging price review, we needed to balance a number of priorities between making service improvements, safeguarding the environment whilst also keeping bills affordable by ensuring that we deliver a decade of below inflation price increases by 2020. Our customers have played a key part in shaping a very ambitious Business Plan that sets challenging performance targets for us between 2015 and 2020.”