Ofwat restores approval for £104bn of water infrastructure projects
Water regulator Ofwat has approved spending of £104bn for infrastructure upgrades by water companies, six months after threatening to cut the figure.
The announcement today (19 December) comes just six months after Ofwat announced plans to cut the amount to just £88bn.
Construction News understands that the restoration of the original figure came partly in response to business rates increases, as well as increased investment requirements from the Environment Agency, Natural Resources Wales and the Drinking Water Inspectorate.
The investment – which will be released over the next five years - will include £12bn for more than 2,800 projects to reduce spills from storm overflows, £2bn worth of funding to drive investment in nine new reservoirs and water transfer schemes, and £456m to replace 8,445km of water mains.
The funding announcement also allocated £6bn to combat nutrient pollution for around 1,000 sites.
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