Water firms focused on returns at expense of environment, say peers

Lords committee criticises Ofwat for failing to ensure firms invested enough in sewage network

Water companies have been too focused on maximising financial returns at the expense of the environment, a House of Lords committee has found.

The investigation by peers into the regulation of the privatised water industry found Ofwat, the regulator, had chosen to keep bills low for customers at the expense of investment in the industry, which is now sorely lacking.