We, the customers, have for 30 years already provided all of the funding necessary for WCs to comply with the law something WCs confirm to Ofwat each and every year.

Where's our money gone? What has happened to it? When can we the customer have a refund? (2/2)

US to bail out Thames Water to benefit of rich foreign countries? In the middle of our own economic crisis? After Tories & their pathetic Ofwat have allowed them to follow the exact same path as all the big chemicals co's, that's ruined the planet for the love of money? NO NO NO

Ofwat always insisted that water groups (not all debt issuing entities) were at least 2 notches inside investment grade = liquidity and viable business. If TW goes to Special Administration then 2nd big failure after Ofgem allowed obviously unviable electricity suppliers

Feargal Sharkey Jon Jones Ofwat Ofwat are just another front organisation. There to protect the status quo at all cost and nothing whatsoever to do with protecting the people, just like the Police & Judiciary.
#r4today

🛫 You’ve seen them on Instagram. You know, those carefree couples with no kids who are always jet-setting from one exotic destination to the next.

So water companies say they want to increase our bills by 40% do they?

Let me remind them. Water companies have a statutory obligation to build, operate and maintain sewage systems capable of 'effectually dealing' 'with the contents of this sewers'. @ofwat letter June 21 (1/2)

Australian Investment Bank Macquarie took £3bn in dividends from Thames Water, until selling in 2017, while piling on debt of £10bn.

They are known as ‘vampire kangaroo’.

In 2021 they bought Southern Water.

Ofwat has failed. Nationalise water.

Zarah Sultana MP Steve W Water companies have been paying shareholders and execs massive dividends and bonuses out of borrowed money, now they're saddled with debt they want us pay more to improve infrastructure they inherited for nothing....theguardian.com/environment/20…

Feargal Sharkey A C Grayling #FBPE #Reform #Rejoin #FBPR Ofwat Keep the water companies private, so we don’t become responsible for paying off their debt. But make it illegal for them to pay a dividend unless they are net profitable and put a ceiling on the debt they are allowed to have compared to assets.

Ofwat I can confirm that water companies' shareholders have made £70,000,000,000 worth of profits! Yay! Let customers pick up the bill for infrastructure!

Andrew Neil Thames Water’s appointment of Sarah Bentley, and the £3.1m ‘golden hello’ which she was handed in 2020, have been an unmitigated disaster. However, they were merely symptoms of a terribly-run company, lazy shareholders and the pathetic regulation of OFWAT thisismoney.co.uk/money/markets/…

Feargal Sharkey Diana Parkinson Ofwat Privatisation was a massive mistake, we should nationalise the industry.

Thames Water on the edge.

Clean bill of health from auditor PwC.

Paid £37.1m dividend in 2022 (£32.9m, 2021).
Thames paid £224.6m interest (£227m, 2021) on loans from other group members. Some at 10%.

Yes, shareholders collected £522m 2 yrs.

OFWAT/Govt let them do this.

Feargal Sharkey Ofwat Wow Fergal! Your clarity and knowledge on James O'Brien this morning was outstanding - thank you for that and for all your advocacy and hard work. Dear LBC please post the clip.

Thames Water:

It takes gross negligence to crash a monopoly with captive customers.

Raw material is free - falls out of sky.

Financial engineering, greed and chase for higher returns in abundance.

Govt/Ofwat aped the three unwise monkeys.

Need independent inquiry.

Feargal Sharkey Ofwat Ofwat? Looks like they might have been eyeing up board positions at the water companies.

“We need water companies that are fit for purpose”: CEO of Ofwat says!

So tell them…
-They can’t increase bills
-They can’t pay CEO bonuses
-No dividends to shareholders
Until they have fixed the problems

If they don’t like that then hand back the keys
newstatesman.com/business/2023/…

Water companies had no debt when privatised. Since then, they've

- borrowed £53Bn 🤯, &

- paid £72Bn in dividends 🤬

WTAF have Ofwat been doing?

Criminal investigations into water firms now!

#ThamesWater #PoliticsLive #c4news #skynews #Newsnight #itvnews #ridge #lbc

This is a huge scandal. If the taxpayer ends up taking on the debt heavy balance sheet of Thames Water 💧 we will, in effect, be paying the shareholders and the obscenely over paid executives. It demonstrates that Ofwat is not fit for purpose and Defra UK ministers are useless.

Meow Meow.
miahcombat.com/collection/pew…
#cats

'Thames Water boss Sarah Bentley quits £1.6m a year job after giving up her bonus amid fury over sewage leaks.'

TW aren't the only water company in serious financial trouble which raises the question what the fu*k was @ofwat doing the last 30 years?

thisismoney.co.uk/money/markets/…

What is the point of Ofwat?

BREAKING: The government has begun drawing up contingency plans for the collapse of Thames Water amid growing doubts.

Sky's City Editor Mark Kleinman gives more detail on his exclusive story.

trib.al/Rx0iR33

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