Extra funding for Scottish Water
Scottish households and businesses will need to brace for a tighter financial squeeze starting April 2023 as their water and wastewater charges are set to increase by 5%.
These new charges are expected to raise around £1 billion annually, giving the Scottish government the money to improve the ageing network and adapt to climate change.
After all, Scottish Water operates 237 water treatment works, 1,837 wastewater treatment works and 63,500 miles of water and sewer pipe.
It supplies 97% of Scottish households with more than 1.5 billion litres of water daily and treats just north of 1 billion litres of wastewater.
Douglas Millican, Chief Executive of Scottish Water, summarised the importance of keeping Scottish Water well funded:
“Our responsibility as a publicly funded body is focused on providing excellent service and water quality and reducing our impact on the environment on which we depend.
“The charges for 23/24 have been set at a level which recognise the need for significant future investment to protect services, and the current economic challenges faced by many. Charge levels in the future are likely to rise to meet our strategic objectives, meet the needs of our customers and to transform services so they become as environmentally and financially-sustainable as possible.”
Comparing Scottish Water with England and Wales
Unlike its northern counterparts, English and Welsh water providers are for-profit private entities that are monitored and regulated by Ofwat.
For example, Thames Water is owned by a consortium led by an Australian bank while Severn Trent Water is a publicly traded company on the London Stock Exchange.
Water UK, a regulatory body predicts that water rates and England and Wales will rise by 7.5%.
Navigating Scottish Water for Businesses
The Scottish water market was deregulated in 2008, allowing local businesses to choose their water service supplier.
There are currently 17 Scottish business water suppliers operating in the market. Business water comparison site AquaSwitch provides a quick and easy way of collecting quotes from multiple suppliers to find your business the best deal.
