Water firms ask for bill rises of between 24% and 91%

Nationalise the lot of them. They had their chance.

Ofwat should only allow this on the provision that executives bonuses are removed, shareholders don’t receive any dividends for the next decade and the current heads of the water companies have to be dragged through a river every week.

Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure.

...

Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.

In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.

"Mum, I need money to repair my bike."

"We gave you money to repair your bike."

"Oh I spent it on sweets for me and my mates."

Here's a fun thought - push a law through demanding a minimal level of service with forced nationalisation at the cost of the shareholders if it isn't met (government pays share price, but proceeds go towards settling company debt first rather than being paid out to shareholders).

Give them a way to fail that doesn't hurt the people who rely on the services, and punish running up unsustainable debt in one joyous law.

Water firms can get in the fucking sea.

Privatise profit socialise loss

Ah good, so my bill will rise and then my landlord will up the rents to cover whatever water shit she has to pay too. Brill. Love this Cuntry.

Meanwhile, here in Scotland - where the water supply has always been publicly owned - Scottish Water announced it had received permission for an 8.8% annual increase.

Source: https://www.scottishwater.co.uk/About-Us/News-and-Views/2024/02/Water-and-Waste-Water-Charges-2024-and-2025

Up next the air and the Sun... peasant you gonna pay for fucking shitting here soon too... per each use 😜

Final stage: you pay some money changer for the right to sleep with your wife!

Just out of curiosity: the article states finite amounts to pay each year. Do you Brits pay one sub or do you pay for consumption (eg per Liter)?

How do you go bankrupt selling a life essential that falls out of the sky for free?

Just stumbled upon this:

Academic calls for upgrade to sewage systems to protect health

The risk to public health from human faeces in our [UK] rivers and seas will increase without action to create a wastewater system fit for the future, according to Professor Barbara Evans, Leeds’ Professor of Public Health Engineering at the University of Leeds.

The report [led by Professor Evans]says collective action by industry, government, public bodies and the general public is required. It makes 15 recommendations, including: review current bathing water regulations; prioritise maintenance of the existing sewage network; return to collecting widespread data on faecal bacteria; develop a long-term strategy for better designing cities to reduce flooding, and the appointment of a dedicated wastewater champion.

Here is the report (pdf).

Ask and ye shall receive...a Hard Stare.

This is the best summary I could come up with:

Water firms say the increases will fund £100bn of spending over the period, which will include replacing ageing, leaking pipes and reducing sewage discharges into rivers and seas.The latest bill hike demands come ahead of a crucial meeting this week when the industry regulator Ofwat will decide what companies can charge between 2025 and 2030.Water companies have been heavily criticised for widespread leaks and the amount of sewage being discharged, which critics have blamed on under-investment in the country's infrastructure.Fewer than one in six customers considered water bill rises affordable, according to a survey Ofwat required the companies to conduct of their own customers.The regulator is unlikely to approve the bill rises in full, but the BBC understands it is expected to agree to bill rises of at least half the amount the companies are requesting, and in some cases considerably more than half.Mike Keil, chief executive of the CCW, said bill rises were "going to come as a massive surprise to people".

"People do want to see improvements, they do understand that takes investment, but I think the scale of what’s being proposed here is going to come as a real shock and this is why water companies have double down on their efforts to explain what people are getting for their money," he said.

Costs will vary depending on a property's rateable value

The latest figures from the CCW incorporate changes from the companies, the regulator Ofwat and other bodies including the Environment Agency since their five year plans for the period 2025-2030 were first submitted last October.The proposed increases include a forecasted inflation rate of 2%, which is in line with the Bank of England's target.There is a very wide range of proposed bill rises, which reflects the very different challenges facing companies in different parts of England and Wales.The very high figure at Southern reflects major upgrades to water infrastructure that has had serious problems.Katy Taylor, Southern Water’s chief customer officer, said the company shared "everyone’s concerns about rising payments", but added "the water needs of our water-stressed region pose a unique set of challenges which require significant investment".She said the cash from higher bills would be used to "reduce the use of storm overflows, safeguard water supplies for a rapidly growing population, and protect the environment".Southern Water is owned by Australian firm Macquarie which has faced fierce criticism for the period when it was Thames Water’s biggest shareholder.

In five of the 10 years it owned Thames, the company paid out more in dividends than it made in profits, while debt rose from £2.5bn to over £10bn in the same period.Macquarie points out that it has recently injected £500m of additional cash into Southern Water.Water UK, which represents suppliers, said bill rises were "never welcome" and added that water companies were "massively increasing the level of financial support they offer to customers who struggle to pay their bills".

It will not allow water companies to spend money on anything for which they have already received funding," the industry body said.Ofwat will publish a preliminary report on the bill rises it expects to approve on 12 June with the figures finalised in December.Water services are publicly owned in Northern Ireland and Scotland.

The original article contains 710 words, the summary contains 536 words. Saved 25%. I'm a bot and I'm open source!