London homeowners may still be looking at an increase in their water rates, but it won't be as big of a jump as it has been in previous years.
A report that is set to be presented on Monday to the Strategic Priorities and Policy Committee, is projecting water and waste water rate increases of 3% for 2016.
London Councillor Josh Morgan says it's part of a plan to long-term plan to bring down water rates.
"As residents will recall, years ago, there was a large increase in the rates. Even in the last few years we've been at 8% and last year [was] 7%," he says. "I know that it's been tough on homeowners to face those increases in the past few years, but they can rest easy that it is [now] a sustainable system. They should expect these small increases moving forward."
Morgan says council is looking to keep the 3% rate the same over the next four years, without any increase.
"We've moved to a place where we have a sustainable long-term fiscal plan and financial plan within the water system, as apposed to a financial plan that was very vulnerable to consumption," he says.
Morgan says residential water consumption in London has decreased by 32% and is foretasted to decrease even further over the next few years.
"Londoners should be rewarded for their consumption decreases," he says. "By them using less water and becoming a more sustainable community, they have put off, far into the future, things like significant capitol investments into a new sewer plant."
