"A Failure Of Privatisation" | Thames Water BLASTED Over Proposal To Hike Water Bills

Troubled utility company Thames Water could raise bills to as much as £627 a year, as it struggles with a leaky network and £15bn of debt.
The company has put forward new plans to regulator Ofwat to boost spending and investment, including £1.1bn on environmental projects.
With 16 million customers in London and the Thames Valley region, Thames Water is under intense scrutiny amidst speculation that it could be taken in to government ownership.
Author Nick Higham said “It's borrowed too much money that it can NOT afford to repay.”
Eleanor Shearer from economic analysis group Common Wealth said "It is a failure of privatisation.”
#water #utility #bill #london #thameswater #costofliving #costoflivingcrisis #sewage #leaks #government
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[@Rancid-wd3ty]

Thames water can sit on it and spin, they're getting nothing more outta me.

[@Iguazu65]

There are no bills for domestic water (including mains sewage and run off) in Ireland.
State owned and well operated. At least the vast majority of the rivers, lakes and shorelines are sewage free. Public backlash is swift when mistakes are made as they do happen.

[@aaronmccardie8795]

I bet the shareholders got their dividends. This nonsense needs to stop they only get dividends if in profit not before.

[@amenhotepv2844]

Privatisation is never a failure.

[@Andrew-tx9jy]

Only for the ordinary people, for the foreign shareholders and CEO's it's great.