The average water bill in the UK will stay pretty much the same over the next financial year, it has been announced.

Regulatory body Ofwat said that its latest figures take into account the 0.3 per cent rise in inflation, which means the usual household bill will decrease by around £3.

As a result, households across England and Wales can expect to pay around £339 a year for their water, it revealed.

"Customers told us that they want us to keep water and sewerage charges flat while maintaining a safe, reliable supply of water," commented Regina Finn, Ofwat's chief executive officer.

"Companies will be investing more than ever before, £22 billion by 2015. That's more than £935 for every property in England and Wales."

In light of fluctuations of other bills - namely gas and electricity - Ms Finn told customers that they can rely on their water costs to remain fairly constant over the course of the next 12 months.

Among Ofwat's plans to enhance the reliability of water supplies is to invest more than £1 billion in improving on the quality of drinking water, while maintaining sources which are already up to the required standard.

Furthermore, it will invest in cleaning supply pipes which serve one million people so water is not discoloured.

In recent months, the regulator revealed it would aim to keep water bills broadly flat for the next five years by investing in the industry and improving standards.

"People can shop around for the best deal on many things, but not water. Our job is to do this for them," Ms Finn emphasised.

She stressed that customers need to feel they are getting good value for money, which includes more than just offering them lower bills, but what they want at a fair price.

Investment will be directed at the best projects to ensure it is provided at the right place, at the right time, she added.