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Water companies have set out plans to cut bills for millions of consumers in England and Wales.

Severn Trent and United Utilities said they would cut the average bill by 5% and 10.5% respectively. Thames Water said bills would be unchanged.

South West Water said it would offer customers a stake in the business.

The plans are being submitted by water companies in England and Wales to the regulator Ofwat for the five years between 2020-2025.

Ofwat will publish an assessment of each company’s plan in January 2019.

The regulator said in December that the results of its price review would result in a cut in bills between £15 and £25 a year from 2020 to 2025.

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