Earning and sharing benefits
Since 2015, the first year of our five-year regulated business plan, we have performed better than expected and to date have earned £5.5m in benefits which are being passed back to customers through reinvestment in improving services as well as bill reductions.
Performance in 2015/16 resulted in £3.1m being reinvested in 2016/17. This reinvestment is already delivering a better and more responsive service to customers, on top of previously planned investment. These improvements include:
- The creation of new jobs in the Exeter call centre to respond to and resolve customer enquiries more quickly and fully
- Extra assistance for vulnerable customers, particularly those in social housing
- Extra measures to encourage customers to save money and water by having a free water meter installed in their property
- Working with communities to reduce sewer blockages in hotspot areas by raising awareness of what not to flush or pour down toilets and sinks, and working with the Environment Agency and Cornwall Wildlife Trust to reduce the risk of pollution
In 2016/17 our performance has resulted in £2.1m being passed back to customers via a c. £3 bill reduction in 2018/19.
Performance in 2017/18 has resulted in £0.3m being passed back to customers via a bill reduction in 2019/20.
There is £9.0m left in the WaterShare mechanism which, after carrying out customer research, our customers have told us they would prefer to be deferred to even out bills in the future.