THIS HAS GOT TO STOP! Severn Trent announces profits worth millions as it seeks to increase the cost of bills for customers the supplier to eight million people in Wales & the Midlands, booked £297.8m in pre-tax profit, £42.7m more than a year earlier news.sky.com/story/severn... - ThreadSky

peterstefanovic.bsky.social • 97 days ago

THIS HAS GOT TO STOP!

Severn Trent announces profits worth millions as it seeks to increase the cost of bills for customers

the supplier to eight million people in Wales & the Midlands, booked £297.8m in pre-tax profit, £42.7m more than a year earlier

https://news.sky.com/story/severn-trent-announces-profits-worth-millions-as-it-seeks-to-increase-cost-of-bills-for-customers-13257245

Comments

phunkypunk.bsky.social•96 days ago

If only there was some sort of correlation between morality and legality?

leeporte.co.uk•97 days ago

Legalised theft. Thatcher is still an absolute fucking shit. Along with all Tories.

emmadabbadoo.bsky.social•97 days ago

I took this photo 3 days ago whilst walking along the river Severn, from sewage discharge, and we’ve not had any rain at all for them to justify discharging.

linda2.bsky.social•97 days ago

Outright scandalous!

saltykat.bsky.social•96 days ago

All in the name of profit and bonuses. 😏

vivianpaul.bsky.social•96 days ago

The sooner they put the water companies back into public ownership the better off,the country will be

hairy-hallett.bsky.social•96 days ago

Top ten in UK land ownership too...

adambede.bsky.social•97 days ago

I am far more worried about dividend payments and senior management salaries, than actual profits. Capping the former and accumulating the latter to do big infrastructure work.

attitudewear.co.uk•74 days ago

According to my maths that works out at about £37 profit per customer. IDK what Severn customers pay but where I am thats maybe 10% of an average annual water bill - which doesn't sound like an excessive profit margin even if the actual numbers are large. As you say, it's about what they do with it.

johnmcg03.bsky.social•96 days ago

It's legalised robbery

darthmik.bsky.social•97 days ago

We stopped in Scotland

allayne.bsky.social•96 days ago

Can the MP for the area raise it in Parliament? Does anyone here live in the area & can write to their MP & ask?
#SevernTrent

christopherhallam.bsky.social•97 days ago

Time for water utilities (all of them) to be taken back under government control.

It’s been a ridiculous endeavour of rinsing (literally) the populace while pumping turd and reducing servicing to appease shareholders for far too long.

scot-ish.bsky.social•96 days ago

Record hardship for customers = record corporate profits, always.

jorisley.bsky.social•96 days ago

They’re taking the piss.

lucifer33.bsky.social•97 days ago

It's Revolt-ing.

amonsteronthehill.bsky.social•97 days ago

PRIVATISATION HAS FAILED

vieco1948.bsky.social•96 days ago

Renationalise without compensation now!

mark77777.bsky.social•97 days ago

Same as the profits of sainsbury etc who make a fortune by over charging, and then state prices have to rise for the NI changes, then look at the energy giants

Greed is not good

alisonmckenzie.bsky.social•97 days ago

I don’t think I remember them lowering the prices in 2023 when the Employer NI was reduced? Do you?

mark77777.bsky.social•97 days ago

Definitely not, the reverse... its just costing more and more, whilst shrinkinflation gathers pace

spark3s.bsky.social•97 days ago

Boils my piss just thinking about it.

joannekarma.bsky.social•96 days ago

Until #Water businesses have updated all water infrastructure to levels necessary to bring the UK water supply industry into 21st century (the reason why the original privatisation sale prices were so cheap!) none of them should be paying shareholders any dividend at all!

kpc9.bsky.social•97 days ago

Typical and I bet they don’t fix many leaks either and only concentrate on their profit!

leeporte.co.uk•97 days ago

They are experts at dumping shit.

jennywrenn.bsky.social•96 days ago

Corporate kleptocracy…Nationalise them all.

marylou2.bsky.social•96 days ago

Ofwat are at Select Cttee 29/11. Write to your MP to get them to ask a question. Its the absence of accountability in utilities monopoly market that enables rampant profiteering while our river system is dying & environmental degradation continues. In a manmade system we must demand change.

littlegem13.bsky.social•96 days ago

It beggars belief at how this can happen!! Robbery and destruction in plain sight.

niknakpaddywack.bsky.social•96 days ago

Refuckingnationalize!! These people are a cabal.

djadam5.bsky.social•97 days ago

WtactualF

1charlee5.bsky.social•96 days ago

Oh look we haven't gouged the peasants enough today. Shitbags.

david-sword.bsky.social•95 days ago

OFWAT still have a long way to go if they're to gain the trust and respect of taxpayers.

debtresadernscarr.bsky.social•97 days ago

Why can't the government go after them instead of pensioners winter fuel allowance?

ben-fraytos.bsky.social•97 days ago

As all UK utility companies, they're taking the piff. Time they were re-nationalised.

suz4nn3.bsky.social•97 days ago

It’s disgraceful, I don’t know how they sleep at night!!

samfreewest.bsky.social•97 days ago

Privatisation of services such as water is a crime against the tax payer.

shatners-bassoon.bsky.social•97 days ago

Privatisation without choice of supplier is even worse

dentie70.bsky.social•97 days ago

At this point they're just laughing in our faces. They don't care about our rivers. For them it's just a resource to exploit with the aim to maximise profits over everything else.

zodiacbanana.bsky.social•97 days ago

The river trent is basically an open sewer after heavy rain Privatised water companies, another national scandal
#nationalscandal

alfiebushell.bsky.social•96 days ago

Robbing bastard can bugger off. Utilities like this should be run for public benefit, not shareholder profits.

alistedman.bsky.social•97 days ago

Come on Labour, this must be your next target. Take these water companies back.

jamietinney.bsky.social•96 days ago

This makes me so angry

iamkevinj.bsky.social•97 days ago

Labour say its too expensive to take them back into public hands, I say the cost of not doing it is much higher.

joobileejoolz.bsky.social•97 days ago

As one of their customers, this is a disgrace. The government needs to start capping price increases, taxing the profits and making these shysters fix the problems in the water infrastructure. Same with energy giants.

valentegio.bsky.social•96 days ago

quando si dice tutto il mondo è paese

norbois.bsky.social•96 days ago

What is the point of a @teamlabouruk.bsky.social government if it won't intervene to prevent customers being ripped off like this? Sadly Labour is in the pockets of corporate interests so they won't regulate against obscene profit making via price hikes.

officialstehee.bsky.social•96 days ago

What is the point indeed. Especially so when the latest increase in Inflation (yesterday) was directly attributable to last month’s Energy Price Rise.

norbois.bsky.social•96 days ago

Also didn't Starmer promise the electorate energy prices wouldn't increase under Labour? Then again those of us who saw through him always knew he was an inveterate liar so the backtracking comes as no surprise.

mrmattpage.bsky.social•96 days ago

The whole thing is a racket. There is no competition, we can’t shop around. I’m in Thames Water area, that’s who I’m stuck with. It is literally a licence to print money for them, and when they’ve hoovered up all the loot like pigs in a trough, they just demand more.

Nationalise now!

paycottage.bsky.social•96 days ago

And on the river Severn pollution has soared in the last 4 years.

cerulecoach.bsky.social•95 days ago

Ofwat is as useless as Ofgen, Ofcom and so on.
Offtheyshouldfuck, methinks.

nomdestylo.bsky.social•97 days ago

It won’t

jumblerates.bsky.social•96 days ago

This is another Tory Thatcher made national disgrace.

Nationalised water companies is the only safe option.

The public must demand this.

ajorca.bsky.social•97 days ago

So when is Starmer and new labour going to make the thieving bastards pay or are his perks too good to risk upsetting the apple cart

porterjames.bsky.social•97 days ago

I don’t know what more encouragement Labour needs to bring the whole shebang back into public ownership.

lloydy-bach.bsky.social•97 days ago

The Govt, of any party, couldn't afford the levels of investment needed, or bailing out the 'investors'. But... something has to be done, make the investors pay for the infrastructure, and curb executive pay.

podkin.bsky.social•96 days ago

Abso-bloody-loutly!

fecklessquine.bsky.social•96 days ago

Nationalise - this is just a racket.

highlandufi.bsky.social•96 days ago

Whilst ever the industry is privatised bigger profits will be a higher priority than customers. They're locked in and have no alternative.

cat-lady24.bsky.social•96 days ago

Severn Trent cast as the Sheriff of Nottingham.

carlossus69.bsky.social•97 days ago

Shareholders should be made to invest at least 50% of their individual profits back into the infrastructure by the regulators!!

pip60.bsky.social•96 days ago

Absolutely disgraceful

baddlesmere.bsky.social•97 days ago

They’ve killed all game fish in the river Tean once a noted Salmon river

chriswhu.bsky.social•97 days ago

Why don’t water companies fall fail of anti-competition regulations? I want to have my supply from Scottish Water, but I have to use Severn Trent! 🤬

masseyjcm.bsky.social•97 days ago

The Government needs to sort this out. Absolutely disgraceful

craig-sk.bsky.social•97 days ago

They need to let them all go bust, it's the only way and then renationalise them for next to nothing.

mythinktime.bsky.social•97 days ago

Like all privatisations in the UK over the last 30 years, foreign owners have benefited from the flaw of micro monopoly franchises.

Sadly the political class are not prepared to bite this particular bullet.

waynenewark.bsky.social•96 days ago

How much do they get annually from their customers?

millionthchance.bsky.social•97 days ago

They're just laughing at us!

gorgerak.bsky.social•96 days ago

That lack of awareness and corporate social responsibility is just staggering, if sadly, not surprising... 😔

the-wayfarer.bsky.social•96 days ago

It's a fucking scam! 😠

caledonia88.bsky.social•97 days ago

But how?

theadesigner.bsky.social•97 days ago

FFS!!!!

southerngirl.bsky.social•97 days ago

Daylight robbery.

careyr.bsky.social•97 days ago

Ah so that’s why I pay £50 a month as a single person living in a tiny 2 bed terraced house…..

debatingroom.bsky.social•97 days ago

Won't somebody think of the poor shareholders 😬

megaror.bsky.social•97 days ago

Also have you noticed their adverts on youtube. An obvious attempt to charity wash their image.

caroletrundle.bsky.social•96 days ago

They are a total disgrace. They also accidentally leaked many customers bank details a couple of years ago . Also there’s constantly burst water mains in our area due to lack of repair and maintenance. We’ve had to have water lorry’s stationed at our McArthur Glen recently due to a local burst main

suresh23.bsky.social•96 days ago

How is this allowed. Especially when the bills are going up.

pdufray.bsky.social•97 days ago

But if they make less profit, they will hold less capital, so it will cost everyone else more because
...
...
Erm...

ern400.bsky.social•96 days ago

Somebody needs to grasp this nettle. It would have wide-spread support.

julesmt.bsky.social•97 days ago

Needs to be nationalised. Too much greed.

julesb66.bsky.social•96 days ago

This sickens me!!

johntonks.bsky.social•97 days ago

Madness that the @teamlabouruk.bsky.social are supposed to be dealing with. So much for the People’s Govt’.

nigeljdixon.bsky.social•97 days ago

Surely the job of government is to wade in and fine them, tax them whatever, surely this could pay for the shortfall in the NHS

sweetthing22.bsky.social•96 days ago

Doesn’t stop them lying and taking money from my benefits. They claim I’ve given consent, I haven’t and I never will.

thinkitthrough.bsky.social•97 days ago

OFWAT are useless

sjt18.bsky.social•97 days ago

It won’t though, will it? 🤷🏻‍♀️

elgarscello.bsky.social•96 days ago

Absolutely disgust! That money, every blooming penny should go into the crumbling infrastructure which these modern day bandits have watched fall apart. It’s absolutely immoral that these so called profits should be handed out to their mates in the city. This is a national disgrace

tbhoy.bsky.social•97 days ago

But it won't. There are too many snouts in the trough

bearden64.bsky.social•97 days ago

What is ofwat for. This is insulting.

djtrt.bsky.social•96 days ago

Nationalise.

colin-penn-kenny.bsky.social•96 days ago

On a connected but different point. We live in France. We have been informed that our electricity bill will reduce from approx January 1st by 10% due to international prices going down. Uk has bills going up by 12 %. What is going on???

nikacp.bsky.social•96 days ago

Outrageous that this is being allowed to continue rather than being held to account for criminal under investment, pollution & endangerment of public heath

mani56.bsky.social•96 days ago

Check out Thames Water CEO Bonus

oldyesbutwise.bsky.social•96 days ago

Shitty water can be turned into gold..

autumnmentia.bsky.social•96 days ago

I kicked off at them for increasing my bill this year by 14%. They said to me, I kid you not, "we are in it together" and the increase is for investment in infrastructure. I have the email still.

gabi17.bsky.social•96 days ago

here’s good example, in 2016 a little country Slovenia 🇸🇮 did this 💦

https://www.theguardian.com/environment/2016/nov/18/slovenia-adds-water-to-constitution-as-fundamental-right-for-all

silvertrain.bsky.social•97 days ago

They are my water suppliers Last year they started crediting my direct debit payments to someone else's account and then pursued me for non-payment of my bill. Luckily I had proof of payment via my bank account but I will never forget how rude and unhelpful they were