Thames Water boss says bills need to rise by 40%
https://www.bbc.co.uk/news/business-68682198
The boss of Thames Water has told the BBC customer bills need to rise by 40% by 2030 to pay for improvements.
"That is the price customers have to pay for the investment in our infrastructure that's needed," he said.
The boss of Thames Water has told the BBC customer bills need to rise by 40% by 2030 to pay for improvements.
"That is the price customers have to pay for the investment in our infrastructure that's needed," he said.
Original post by Talkative Toad
https://www.bbc.co.uk/news/business-68682198
The boss of Thames Water has told the BBC customer bills need to rise by 40% by 2030 to pay for improvements.
"That is the price customers have to pay for the investment in our infrastructure that's needed," he said.
The boss of Thames Water has told the BBC customer bills need to rise by 40% by 2030 to pay for improvements.
"That is the price customers have to pay for the investment in our infrastructure that's needed," he said.
This should be criminally investigated.
Original post by Wired_1800
This should be criminally investigated.
What for?
Original post by Talkative Toad
What for?
Public negligence. Endangering the lives of consumers by prioritising profit to shareholders.
Original post by Wired_1800
Public negligence. Endangering the lives of consumers by prioritising profit to shareholders.
Fair take.
Original post by Talkative Toad
What for?
With very large leaks of water and possibly money too.
Thames Water annual leaks are around 635 million litres of water every day, almost a quarter of all the water it supplies.
Apparently that's equivalent to running a hosepipe non-stop for 73 years.
Goodness knows how much money they and their savvy accountants have been hemorrhaging every year for the last decade.
His salary should drop by 40%
I'm a Tory.
The franchise model for water is an abomination, it is privatisation without marketisation which is what generates most benefits.
I would personally deny Thames Water the price hike and new loan such that it is allowed to collapse without outside investment.
I would then nationalise the scraps at pennies on the pound and restructure the water market like the energy market. Private supply and retail, National Grid Water i'd actually have 51% public.
I would however put everybody on a meter.
The franchise model for water is an abomination, it is privatisation without marketisation which is what generates most benefits.
I would personally deny Thames Water the price hike and new loan such that it is allowed to collapse without outside investment.
I would then nationalise the scraps at pennies on the pound and restructure the water market like the energy market. Private supply and retail, National Grid Water i'd actually have 51% public.
I would however put everybody on a meter.
(edited 4 weeks ago)
Original post by Andrew97
His salary should drop by 40%
What I was thinking, cut the man’s salary or bonus. Screw these large energy and water companies making outrageous amounts of profit or having their CEO on a cushy salary whilst hiking prices this much and/or being this incompetent.
Now they are trying to ask for permission to raise bills by 56%… forget 40% by 2023, how about 56%?:
https://archive.is/20240329211032/https://www.ft.com/content/ed182b89-6b96-4bfa-96c0-b1c70357861b
https://archive.is/20240329211032/https://www.ft.com/content/ed182b89-6b96-4bfa-96c0-b1c70357861b
(edited 3 weeks ago)
Original post by Talkative Toad
Now they are trying to ask for permission to raise bills by 56%… forget 40% by 2023, how about 56%?:
https://archive.is/20240329211032/https://www.ft.com/content/ed182b89-6b96-4bfa-96c0-b1c70357861b
https://archive.is/20240329211032/https://www.ft.com/content/ed182b89-6b96-4bfa-96c0-b1c70357861b
There should be criminal sentences.
Original post by Wired_1800
There should be criminal sentences.
For who the CEO?
Original post by Talkative Toad
For who the CEO?
The CEO and those responsible for the scandal
Original post by Rakas21
I'm a Tory.
The franchise model for water is an abomination, it is privatisation without marketisation which is what generates most benefits.
I would personally deny Thames Water the price hike and new loan such that it is allowed to collapse without outside investment.
I would then nationalise the scraps at pennies on the pound and restructure the water market like the energy market. Private supply and retail, National Grid Water i'd actually have 51% public.
I would however put everybody on a meter.
The franchise model for water is an abomination, it is privatisation without marketisation which is what generates most benefits.
I would personally deny Thames Water the price hike and new loan such that it is allowed to collapse without outside investment.
I would then nationalise the scraps at pennies on the pound and restructure the water market like the energy market. Private supply and retail, National Grid Water i'd actually have 51% public.
I would however put everybody on a meter.
Full agreement actually as a non Tory. It's just a sensible take, the market isn't working, only a complete fundamentalist would agree to keep things as they are for the sake of some privitisation argument - disclaimer I'm a Labour voter, but I'm not against partial nationalisation and then future privitisation to a good board of directors, the important thing is value for money, and meter readings are a good shout. I think the leakage and sewage discharges are criminal really, they ought to be, it's such an extraordinary waste and damage for no reason than incompetence.
Original post by tashkent46
Full agreement actually as a non Tory. It's just a sensible take, the market isn't working, only a complete fundamentalist would agree to keep things as they are for the sake of some privitisation argument - disclaimer I'm a Labour voter, but I'm not against partial nationalisation and then future privitisation to a good board of directors, the important thing is value for money, and meter readings are a good shout. I think the leakage and sewage discharges are criminal really, they ought to be, it's such an extraordinary waste and damage for no reason than incompetence.
Beyond the incompetence of failing to properly run the organisation, the waste spillage poses critical risks to humans and the environment. This could then add to Government costs as they have to treat diseases through the NHS or protect the environment through the Environmental Agency.
The company poses a danger to the public. They would rather give their shareholders dividends than invest the funds in actually improving things. It’s one of the tricks of capitalism, “privatise the benefits but socialise the costs”.
I agree with the other member who suggested that the Government should allow the company to fail then restructure the organisation from there. If companies and investors know that the State would be willing to allow them to fail, they would be run better.
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