'For years this has been described by water companies and politicians as a problem of “Victorian” sewers.' 'In fact, modern sewers are the problem. Very little of the British sewer system – less than 1 per cent, in some areas – is Victorian, and it is not the Victorian sections that are responsible for the most spills.'
In 2021 #ThamesWater replaced our water meter with a "Smart" meter. Since then.. they've estimated 6 out of the 7 water bills they've sent since. They last did an accurate reading in 2022! What's the point in wasting cost, effort and earths resources on something they don't use.
Hang on -- so Thames Water in the UK hasn't done necessary maintenance to prevent sewage spills into rivers and the ocean. Now, after so much public backlash about their environmental damage, they plan to do that work, and then RAISE the customers' bills by 40-44% to recoup the costs???
These are the people demanding we pay their extortionate bill every month so they can repay their creditors, having looted as much as they can, like an old school colonial power.
Fuck Thames Water
Fuck Privatisation
Fuck the Tories
Perhaps he's leaving them to collapse under a Labour gov. Or, maybe there's a few million left to drain in dividends and exec bonuses first. Whatever the reason, this is bad for customers and the environment.
⏰ We’ve got just 6 weeks until #ThamesWater’s future is decided. I’ve just written to #SteveBarclay to demand there is no bailout for Thames' shareholders at our expense.
So, OFWAT responding to public anger about sewage problems across England's waterways, has decided to direct the funds raised from sewage spillage fines into its Water Restoration Fund..... however, the fines collected in the last two years amount to (just) £11mn.
As Nick Measham (WildFish) says: 'This is a drop in the sewage-filled rivers and ocean... the fund is minuscule when compared to the gallons of effluent pouring into our rivers and coastal waters'
Thames Water epitomises what I hate about the current model of capitalism. Not only should they not exist at all, but they have a weird ownership structure... And the media fall for it.
We keep hearing about how "Kemble Water Group" owns Thames Water. Except? It only seems to exist to manipulate the way companies have to behave in the UK. They don't own anything else. Just a series of companies all specifically there to deal with Thames Water.
Monster Soup!
Printed around 1830, when the River Thames was heavily polluted with sewage. It caused no end of disease, including the 1854 epidemic of Cholera.
“It would be a lot nicer if there wasn’t as much poo in the water. It’s not to take away from Cambridge, as we may not have beaten them even if we were all on top form.”
Thames Water CEO Chris Weston is in line for a £2.3m pay package.
The problem with water privatisation as summed up by the FT:
'By the time Macquarie sold its final stake in Thames Water in 2017, the company had spent £11bn from customer bills on infrastructure. But far from injecting any new capital in the business — one of the original justifications for privatisation — £2.7bn had been taken out in dividends and £2.2bn in loans...
[Its] debt also increased steeply from £3.4bn in 2007 to £10.8bn at the point of sale'!
Imagine not being able to turn a profit when you LITERALLY RUN A MONOPOLY BUSINESS. Why are we still expected to listen to these self-styled big brains of business when they’re manifestly shit at what they do?
Adam Almeida on the implications of the looming collapse of Thames Water:
'[R]ather than tinkering with the ownership structure or again trying to regulate a privatised industry, [the solution] is to ultimately end the exploitation of our public goods. England must follow the lead of the rest of the world – and bring water back into public ownership'!
The fever dream of privatisation has been an enrichment scheme for investment bankers!
This is the classic scam. Privatise an essential service. Load it with masses of debt, while investing the minimum it can get away with. Pay shareholders as much as it can get away with. When it collapses, walk away so the state has to pick up the pieces until it becomes viable again. Rinse and repeat.
"Water companies are commercial entities and we do not comment on the financial situation of specific companies as it would not be appropriate."
A Government spokesperson.
Ludicrous. Water is an essential service. It should never be subject to such subterfuge, particularly as Thames Water is demanding being allowed to pay higher dividends, while increasing bills by 40%, and limitations on fines for serious pollution of rivers.
For the first time today in person I saw sewage and toilet paper coming out of a drain cover along with storm water, running down the road for about half a mile and then into a river. Grim. It stank and stopped us walking down the road to town. #ThamesWater