British regulators have slashed proposed rate increases by water companies, crimping revenue at a time they are struggling to persuade investors to finance efforts to reduce sewage spills that have fouled waterways around the country. Under the draft decision by regulator Ofwat, Thames Water, Britain’s biggest water company, would be allowed to hike consumer bills by 23% over the next five years, about half of the 44% increase the company requested. The prospect of big rate increases has sparked outrage in Britain, where consumers are angry about the companies’ failure to prevent sewage spills.
