Water companies have pledged record investment between 2025 and 2030 but have warned customers that significant bill hikes will be necessary and told the regulator that investors will need to see fair returns. Southern customers are among those facing the highest price increases although the company is one of several to investigate novel tariffs, such as seasonal charging, to bring down overall bills. Other key elements across the plans include the approach to protecting the environment and some pushback to Ofwat's approach on returns.