There will be "no increase in average household water bills" in the North West until at least April 2023, the boss of United Utilities has said.
Chief executive Steve Mogford ruled out a rise in its financial year to March 31, 2023, despite the high levels of inflation.
The CEO also said the company will be investing an extra £400m to improve the service its provides and to "accelerate the delivery of environmental outcomes". READ MORE: Click here to sign up to the BusinessLive North West newsletter United Utilities has also reported its results for the 12 months to March 31, 2022, in which its revenue increased from £1.808bn to £1.862bn.
The company's pre-tax profits dipped from £551m to £439.9m over the same time. Mr Mogford said: "We are very conscious of our responsibility to support customers at a time when households are seeing significant rises in the cost of living. "Despite the high levels of inflation, we expect no increase in average household water bills in our region in the coming financial year and we are offering more financial support to customers in need than ever before. "We are a leading supporter of the Consumer Council for Water's drive for a national social tariff and believe the right support should be provided to customers who struggle to pay their bill regardless of where they live in the country. "We take our role in the North West very seriously, and firmly believe that responsibly sharing our successes is the right thing to do for all our stakeholders. "Our improving performance together with an environment of higher inflation is yielding a greater level of outperformance, and so we will be investing an additional £400m to improve the service we provide to customers and to accelerate the
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