This is more than its operating costs and a far greater proportion than in most industries. This investment programme is producing results. The quality of drinking water has got even better. And the standards achieved for sewage treatment have greatly improved, leading to cleaner bathing waters and a drop in the number of pollution incidents. Customer service has also got better.
Fewer properties suffer from low pressure, fewer people have their supplies interrupted.
Ofwat is now working hard on the 1999 price review. I am disappointed to see battle lines being drawn between environmentalists and customers. We are all customers. We have all seen our bills rise to finance the industry's investment programme. I believe customers would welcome a clear demonstration of the improving efficiency of the industry through a significant price reduction in April 2000.