Published: 00:02, 06 June 2014 |
Updated: 10:31, 06 June 2014
Water customers are preparing for a payout after Thames Water agreed to pay £86m of penalties for misreporting the number of properties at high risk of sewer flooding.
An investigation by Ofwat revealed that between 2005 and 2010 the company claimed more properties were at high flood risk than evidence supported.
The utility firm – which supplies customers in the Dartford area – has agreed to a £79m reduction in the way it sets price limits, which the regulator says will lead to lower bills for its 15m customers.
The company will also give back £7m to customers and the community.
Ofwat chief executive Cathryn Ross said: “We welcome Thames’s co-operative approach which means we have concluded our investigation more quickly and resulted in a better outcome for customers.
“We are satisfied that Thames has put right the problems that caused the misreporting. It’s only fair that when companies make mistakes, they put it right and make sure customers are not out of pocket.”
A Thames Water statement said: “We made a mistake in some of our 2009/10 sewer flooding statistics.
“Ofwat agree that this was not deliberate and we are pleased they have accepted our package of measures in response.
“This is a positive result for our customers, communities and the environment.”
Every morning at 10am we play you an hour of tunes from the 90s. We call it, #WeLoveThe90s.
Play 'Say It' with Garry and Laura on kmfm Breakfast and you could win £1,000!
Wake up to kmfm Breakfast with Garry and Laura - it's Kent's alarm call.
A guide for your future. For year 11 students in Kent and Medway. Click here for the e-edition.
Education, Training & Childcare is a special supplement published by KM Media Group four times a year. Click here for latest e-edition.
This is a brand new online resource covering every aspect of owning and improving a home in Kent and Medway.
Get the latest food and drink news, recipes from some of the nation's top chefs plus updates from Kent's vineyards and breweries.
Search in your local area to find your perfect partner in Kent, with FreshStart Dating! PLUS, register for free!.
Neil Miller, Hever Castle head gardener is new gardening blogger.
Buy pictures that you've seen in a KM newspaper, or send in a picture and we will place it on our photo sales website so that you can purchase a super, unique gift.