- Joined
- Jan 17, 2010
- Messages
- 4,907
- Reaction score
- 6,006
- Dude tried to privatise everything.
Economy Water Privatisation not working out for the UK.
- Thread starter 650lb Sumo
- Start date
- Joined
- Aug 25, 2021
- Messages
- 7,215
- Reaction score
- 16,788
Update Two
Where is the Money Going?
Shareholders in some of the UK's largest water companies have taken out tens of billions of pounds but failed to invest, new research claims, with firms planning to raise household bills to fund future spending.
Investors have withdrawn £85.2bn from ten water and sewage firms in England and Wales since the industry was privatised more than 30 years ago, analysis by the University of Greenwich suggests.
Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure.
Ofwat, the industry regulator, said it 'strongly refuted' the figures.
Water and sewage firms want to increase customers' bills by an average 33% over the next five years to fund improvements in the services for households.
But David Hall, visiting professor at the Public Services International Research Unit at the University of Greenwich,
claims that water companies have invested 'less than nothing of their own money' and are 'treating their customers like a cash cow'.
The University of Greenwich examined the company accounts of the top 10 water and sewage companies in England and Wales including Thames Water, United Utilities and Severn Trent.
It said that between privatisation in 1989 and 2023, money invested by shareholders in the largest firms shrank by £5.5bn when adjusted for inflation.
Over the same period the amount of 'retained earnings' - profits left over once things like dividends have been paid out, that can be used to invest in a business - had dropped by £6.7bn in real terms.
Meanwhile the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account.
Ofwat said the dividend figure is 'simply wrong'.
Contamination
www.independent.co.uk
www.thesun.co.uk
A map has revealed how tap water in ten UK regions is riddled with POO - with experts fuming it 'should simply never happen'.
Hundreds are feared ill after tap water in South Devon was found to be contaminated with a parasite causing diarrhoea and 'childbirth-like' cramps.
The UK Health Security Agency is investigating 46 confirmed cases linked to the cryptosporidium outbreak.
Cryptosporidium
But experts fear people could fall ill in other parts of the UK.
A map has revealed how over 44.5 million Brits were supplied water by a company that experienced at least one bacteria breach in 2022.
A total of 34 E. coli and Enterococci breaches took place in England and Wales in 2022, according to the Government's Drinking Water Inspectorate (DWI).
Both are types of bacteria that indicate water has been contaminated by faeces, which can make humans and animals very sick.
The number of people infected with a waterborne disease following a parasite outbreak in south Devon is likely to increase for up to two weeks, a public health boss has warned.
The UK Health Security Agency (UKHSA) said on Friday that 46 cases of cryptosporidium, a disease that can cause unpleasant symptoms such as diarrhoea and vomiting, had been confirmed in Brixham after people drank water feared to be contaminated with a waterborne parasite.
Around 16,000 households and businesses were told not to use their tap water for drinking without boiling and cooling it first, as more cases are anticipated.
Where is the Money Going?
Water industry investors have withdrawn billions, claims research
A report suggests shareholders have taken billons but failed to invest as water bills look set to rise.
www.bbc.co.uk
Shareholders in some of the UK's largest water companies have taken out tens of billions of pounds but failed to invest, new research claims, with firms planning to raise household bills to fund future spending.
Investors have withdrawn £85.2bn from ten water and sewage firms in England and Wales since the industry was privatised more than 30 years ago, analysis by the University of Greenwich suggests.
Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure.
Ofwat, the industry regulator, said it 'strongly refuted' the figures.
Water and sewage firms want to increase customers' bills by an average 33% over the next five years to fund improvements in the services for households.
But David Hall, visiting professor at the Public Services International Research Unit at the University of Greenwich,
claims that water companies have invested 'less than nothing of their own money' and are 'treating their customers like a cash cow'.
The University of Greenwich examined the company accounts of the top 10 water and sewage companies in England and Wales including Thames Water, United Utilities and Severn Trent.
It said that between privatisation in 1989 and 2023, money invested by shareholders in the largest firms shrank by £5.5bn when adjusted for inflation.
Over the same period the amount of 'retained earnings' - profits left over once things like dividends have been paid out, that can be used to invest in a business - had dropped by £6.7bn in real terms.
Meanwhile the total amount that these firms paid out to their shareholders in dividends grew to £72.8bn, when taking inflation into account.
Ofwat said the dividend figure is 'simply wrong'.
Contamination
Infections in water parasite outbreak ‘set to keep rising for weeks’
MP says anger in Brixham ‘palpable’ as least 46 cases of disease linked to contaminated water confirmed
www.independent.co.uk
Map reveals how tap water ‘riddled with POO’ was found in 10 UK regions
A MAP has revealed how tap water in ten UK regions is riddled with POO – with experts fuming it “should simply never happen”. Hundreds are feared ill after tap water in South Devo…
www.thesun.co.uk
A map has revealed how tap water in ten UK regions is riddled with POO - with experts fuming it 'should simply never happen'.
Hundreds are feared ill after tap water in South Devon was found to be contaminated with a parasite causing diarrhoea and 'childbirth-like' cramps.
The UK Health Security Agency is investigating 46 confirmed cases linked to the cryptosporidium outbreak.
Cryptosporidium
But experts fear people could fall ill in other parts of the UK.
A map has revealed how over 44.5 million Brits were supplied water by a company that experienced at least one bacteria breach in 2022.
A total of 34 E. coli and Enterococci breaches took place in England and Wales in 2022, according to the Government's Drinking Water Inspectorate (DWI).
Both are types of bacteria that indicate water has been contaminated by faeces, which can make humans and animals very sick.
The number of people infected with a waterborne disease following a parasite outbreak in south Devon is likely to increase for up to two weeks, a public health boss has warned.
The UK Health Security Agency (UKHSA) said on Friday that 46 cases of cryptosporidium, a disease that can cause unpleasant symptoms such as diarrhoea and vomiting, had been confirmed in Brixham after people drank water feared to be contaminated with a waterborne parasite.
Around 16,000 households and businesses were told not to use their tap water for drinking without boiling and cooling it first, as more cases are anticipated.
Last edited:
Latest posts
-
International International Criminal Court seeks arrest of Netanyahu for war crimes- Latest: Fox by the Sea
-
-
The Jon Jones opponents were past their prime/too small for him myth- Latest: CatchtheseHands
-
