In the pipeline

Yet, in this challenging financial climate, such firms can also be a force for good if they are in a position to invest in the wider economy and, therefore, safeguard or create jobs. Yorkshire Water's so-called "ripple effect" is a case in point, with every 1 of investment generating 90p of wealth.

Few organisations, and individuals, can guarantee such a financial dividend in the current climate, and the research undertaken by the University of Leeds has certainly proved beneficial in explaining the work of Yorkshire Water as it embarks upon a 2bn investment programme over the next five years.

As well as creating hundreds of jobs, it will also bring about improvements to drinking water – and improve the cleanliness of this region's beaches as coastal resorts look to boost visitor numbers still further.

In extolling its virtues, however, Yorkshire Water should,

nevertheless, be reminded that it enjoys monopoly status – people cannot acquire their water from other suppliers – and that many of the planned improvements have been waiting in the proverbial pipeline for years.

Its challenge now is to bring about these improvements in an efficient manner – while also working with industry regulators to keep future increases in water charges to a minimum.