U.K. water regulator Ofwat Thursday kept consumers' water bills flat for the period 2010 to 2015, which will allow over GBP22 billion investment in the sector - the largest ever.

The regulator's decision means the average bill across England and Wales will decrease by GBP3 to GBP340 by 2015 before inflation. This is about GBP34 lower than companies' proposals.

This week, U.K. water companies posted profits for the first half fueled by price increases to customers.

Every five years Ofwat sets the amount by which water companies can increase customer bills.

The listed companies affected by these proposals are Pennon PLC (PNN.LN), United Utilities PLC (UU.LN) and Severn Trent PLC (SVT.LN).

-By Selina Williams, Dow Jones Newswires +44 207 842 9262; selina.williams@dowjones.com
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