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Thames Water Among Suppliers Set to Be Allowed to Hike Bills to Boost Spending
Ofwat’s draft ruling would let five suppliers raise charges to fund £3.4 billion in upgrades and environmental fixes, with final approval due in December.
- Ofwat gave provisional approval on Thursday for five water firms, including Thames Water, to raise charges as part of a plan to inject an extra £3.4 billion into the industry by 2030.
- The draft determination follows a three-month review by Ofwat, after 13 firms originally requested £4.3 billion in extra investment to upgrade infrastructure for new housing and tackle hazardous 'forever chemicals'.
- Facing more than £20 billion in debt, Thames Water also sparked outrage after handing a £1m 'golden handshake' to its chief financial officer while serving around 16 million customers across Britain.
- Prime Minister Andy Burnham criticized the draft decision, stating customers 'cannot be treated as a blank cheque' and that the Government will seek to give the public more control.
- With consultation open until September 24, the Consumer Council for Water emphasized that households already struggle with cost-of-living pressures, with Ofwat's final verdict due in December.
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Because of marauding infrastructure and high water charges, Britain's anger is growing over its water companies. Nationalization could cost more than £100 billion.
·Frankfurt, Germany
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Campaign to renationalise Thames Water needs your support
Thames Water is one of the most scandal-struck companies in the UK. The good news is it’s so in debt that the UK could use special measures to take it into public hands without paying them out. Unfortunately, though, the government doesn’t seem to have much interest in doing so. This is why We Own […] By Willem Moore
·London, United Kingdom
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Total News Sources28
Leaning Left4Leaning Right7Center14Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 16%
C 56%
R 28%
Factuality
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