Privatised water clusterflick.

[JohnD]

"Thames Water is lobbying the government and industry regulator Ofwat to let it increase bills, pay dividends and face lower fines as it seeks to avoid a potential multibillion-pound taxpayer bailout.

Britain’s largest water monopoly is trying to avoid being taken over under the government’s special administration regime, which could leave taxpayers on the hook and undermine confidence in the privatised water industry.

Last week the government passed updated water insolvency legislation, a move seen by industry experts as an indication that a collapse could be imminent."

FT.com

 

[Odds]

Thames Water has been lobbying the government and regulators to let it increase bills by 40%, pay lower fines for breaches and keep paying out dividends as part of efforts to avert a taxpayer bailout, according to a report. That plan would give Thames Water permission to increase bills by 40% by 2030, while also offering more leniency around regulator fines and rules around the dividends it can pay to shareholders.

Last week, the Department for Environment, Food and Rural Affairs (Defra) updated 30-year-old legislation on the special administration regime, which would allow existing shareholders to retain a stake in the company and make it less likely that failing water companies could be fully renationalised. Thames Water revealed this month that it expected more leaks than initially thought, after its ageing pipes were overwhelmed by heavy rain this winter.

The Guardian

Even a former PM is appalled at the way Thames Water operates...

 

[SirGalahad]

Mottie, Filly et al and the Tory bots will just stay quiet or there goes a boat - better check the passengers..

 

[JohnD]

Will be interesting if we see a Tory renationalisation

 

[SirGalahad]

Will be interesting if we see a Tory renationalisation

How dare the public benefit from public services. We need private sector asset strippers.

 

[transam]

Water should never have been privatised in the first place imo

Incidentally are French companies involved in water companies

Stake holders / share holders ??

 

[motorbiking]

agree - no benefit privatising something that does not have to compete for business.
No - mostly Chinese and a few pension companies.

 

[transam]

agree - no benefit privatising something that does not have to compete for business.
No - mostly Chinese and a few pension companies.

Wonder if Johnds pension fund are investors ??

 

[Andydevon]

Does anyone remember just how useless and inept the water companies were when in the public sector? Still should be publicly owned by the way.

 

[nwgs]

My water bill is a bargain. You lot need a life

 

[Brigadier]

My water bill is a bargain. You lot need a life

One side of the coin.

Not much fun for anyone who "enjoys" or waterways and beaches, with shoite being dumped into them.

In a land surrounded by water, and frequently pizz-wet-through with the stuff coming from the sky, how the privatised water companies manage to feck it quite as much as they do, beggars belief.

 

[securespark]

How much do you call a bargain?

 

[carmanmemoranda]

My water bill is a bargain. You lot need a life

Not quite sure why they are paying dividends out though.

Would be an even better bargain if they used the money properly

 

[Brigadier]

How much do you call a bargain?

Leeds then a tenner a month, for sweet, sweet drinking water.

Which also doubles up as stuff to shower under, wash up with, and flush the bog with.

(I use water-butt water though, to wash the car)

 

[securespark]

Leeds then a tenner a month, for sweet, sweet drinking water.

Which also doubles up as stuff to shower under, wash up with, and flush the bog with.

(I use water-butt water though, to wash the car)

Don't understand how much you are paying at the moment for your water charges.