Thames Water have been fined £104.5m, the largest ever issued, over sewage spills, and £18.2m for breaches over dividend payments.
Ofwat say the fines will be paid by the company & investors - it won't be passed on to customers.
It's a sign of the government cracking down on water companies.
Ofwat say the fines will be paid by the company & investors - it won't be passed on to customers.
It's a sign of the government cracking down on water companies.
Comments
So in due course makes the failure of Thames Water more likely - which is the most likely route to public ownership.
https://bsky.app/profile/truegoode.bsky.social/post/3lq7lkheyk22w
Granted, the rules dictating what they could be increased by are under historic laws and we're set last year.
But ofwat will monitor what it is spent on....
1/2
And since then, ofwat have been given more powers and are likely to soon be given even more, to enforce regulations that work for the customer and not the water companies.
2/2
Nationalise all utilities now
Read news and communications, https://gov.uk.
Find out the truth for yourself
https://bsky.app/profile/t-rexit.bsky.social/post/3lq7wruu5dc27
Read news and communications at https://gov.uk website, like Warren does.
You can see that the government etc.ment have laid down clear expectations.
Unlike Tories who gave away £1,500,000,000 to house refugees on a barge and forgot to say it had to be disease free.
Why not let them fail then Nationalise for nothing?
This doesn’t sound go me like OFWAT is holding water companies to account
https://www.bbc.co.uk/news/articles/cg7z7ddmd5eo.amp
Fire dome managers?
Sorry for being so cynical.
Like every other time.
They just eat the fines and laugh because they're already costed in.
Why Nationalising English Water isn't a priority is a question for English politicians.
Scottish Water, just to the North, WORKS.
But water regulation is...we've already had law changes to boost regulatory powers and a lot more is coming out of a ongoing review.
And ofwat say costs won't be passed on.
Loans were taken to pay dividends, the interest on those loans is passed on to customers. Prove otherwise.
It's now starting to be put right by Labour.