Thames Water is demanding the right to increase customer bills by 59% — a £696 yearly increase. Thames Water has the cheek to say that it is making “up for years of keeping bills low”.
Government regulator Ofwat has said Thames Water is ‘only’ allowed to increase bills by a ‘lower’ amount. But still in the hundreds of pounds!
Thames Water claims that the shocking bill rises are needed to encourage “investment”, and that “the money we’re asking for from customers will be invested in new infrastructure, and improving our services for the benefit of households and the environment”.
Ofwat has said it will independently monitor Thames Water. But more than that, the whole privatisation model of water, and our public services, has failed.
Sewage spills doubled in 2023. Thames Water alone has racked up £14 billion debts, while paying £7 billion to shareholders since privatisation.
Thames Water, and the rest of the leeching private water companies, should be nationalised, under the democratic control of the working class. Compensation should only be paid on the basis of proven need – nothing should go to the fat-cat shareholders. That way, workers and consumers could properly plan our water industry, reduce spills and bills, while helping the environment.