WATER companies in England and Wales are delivering all their environmental and water quality obligations and meeting efficiency targets, according to an Office of Water Services report.
Despite an increase on last year, the £3 billion capital expenditure of water companies for 2001 to 2002 was around 19 per cent below the limit.
Ofwat and the Environment Agency will check key environmental schemes are progressing satisfactorily and will be completed by the required dates.
Mr Philip Fletcher, director general of Water Services, said: "The overall financial performance of the water industry shows that water companies are continuing to respond to the challenges set for them at the last price review."
Although companies' operating profitability rose slightly to £1,995 million, the industry's net debt at the end of March was nearly £15.5 billion.
Mr Fletcher said: "Maintaining the capital expenditure programme is important for confidence in the industry and for delivering reports on time so that customers and the environment benefit."
It is good news for drinking water, as further improvements mean 99.86 per cent of sample tests meet standards and water levels are safe but underground sewerage levels uncertain.
To view the report visit www.ofwat.gov.uk.
August 20, 2002 17:30
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