Being Soaked By Water Companies

[Hymie]

Apparently UK water companies want to increase your water bill by between 24% - 91%.

https://www.bbc.co.uk/news/articles/ce55vp78n40o

 

According to a recent Private Eye piece – at the time of privatisation (in 1989), Thames Water’s debt was zero pounds; fast forward to 2024 and their debt stands at £15.6 billion.

[ToraToraTora]

Yes, should never have been privatised, It should be renationalised pronto.

[newmodarmy]

It's a scary figure but the statement that its debt was nil at the time of privatisation sounds misleading to me- they were just bailed out by the taxpayer when needed prior to 1989 so the debt level was just recorded as zero

[pastafreak]

South West Water better not ask for more.

[davebro3]

why - whatcha gonna do if they do?

[Old_Geezer]

Riot, and not bathe.

[tomus42]

//Yes, should never have been privatised, It should be renationalised pronto.//

When political ideology takes precedence over economic and common sense. Blame TGL.

Sensible moves being are proposed by Labour re the railways at least.

[Hymie]

My bet is that most of that Thames Water £15.6 billion debt can be attributed to shareholder dividends, and fat-cat remuneration packages paid to top executives of the company (over the 35 years of being a private company) – and not that they have overspent on infrastructure providing a quality service to their customers.

[ToraToraTora]

20:43, There is no bigger fan of TGL than me and I don't blame her. With the state of the public sector at the time it must have seemed the right ting to do. I think even she would now accept it was an error if she saw the state of water today.

[tomus42]

I think it's a mistake to privatise things that are crucial to the infrastructure of the country.

[wolf63]

Does everyone in England have a water meter?

My water is paid as part of my council tax.

 

 

[davebro3]

//Does everyone in England have a water meter?//

Far from it - many still pay for water based on the pre council tax rateable value of their property.

I got a water meter 20 odd years ago & I pay less for my water now than I did when I moved here in 1986.

[ToraToraTora]

23:10 no but I recommend getting one, my water bill went down dramatically when I went over to a water meter. So unless you are bottling Peckham spring in your kitchen I'd say get a meter!

[theshedman]

pastafreak, yes I know what you mean about South West Water.  Our bills were really high £110 a month until we had water meter fitted and that was 10 years ago.

[Old_Geezer]

Water companies should look to their investors for investment. Customer charges should reflect fairly on the cost of the active service. And vital public services should not be sold off to foreign concerns who have no stake in the nation's citizen's welfare but who simply see it as a wealth generator for themselves. Monopoly type services ought to be owned by the public.

[douglas9401]

We've seen how long it's taken for politicians to own massive scandals of their predecessor's doing.

Don't expect any action any time soon to remedy the profiteering and mismanagement at water suppliers.

The potential in this and other industries where customers are held captive, for future cushy employment is too great and that, I'm afraid, is a simple truth.

[dasherman]

No one wants to see their bills increase, but personally I'm glad I live in the South Staffs Water region.

I've also got a water meter and pay at least half of what I would do based on rateable value.

[youngmafbog]

It needs addressing immediately.

I suspect asset stripping.