Thames Tideway, the private company building the new capital of the British capital, is trying to raise Londoners’ water bills to deal with extra costs of £ 233 million as a result of the Covid-19 pandemic. Thames Water’s customers are currently paying the £ 4.1 billion cost for the tunnel through a surcharge of £ 18 a year on their water bills, which could rise to between £ 20 and £ 25 if water regulator Ofwat agrees with the plans. The construction of the tunnel, which will run 16 km under the river Thames and stop billions liter sewer to dump into the river every year, more than half is completed. But the privately funded company developing the tunnel had to halt work during the closure last year, which delayed the project by about nine months until early 2025. A consultation was concluded this week and a decision on increasing the customer surcharge is expected by the autumn. Or what he says is investigating the impact of the pandemic, which could mean a modest increase in costs.
FT 11th July 2021 read more »