To: David Black of Ofwat, Ruth Jones, Shadow Environment Minister
Give Water Services Consumers Shares for their Investment!
Water services are in crisis with the water companies failing in their duties to reduce leakage and not discharge sewage into water courses. Despite this, executives have still received unjustified bonuses. Now we learn that in a belated attempt to make some redress to the situation, companies have announced investment programmes. These are to be partly funded by above-inflation price rises.
The information below explains the current situation:-
“Water UK said the increases, equivalent to £27 a year, would leave households with an average annual bill of £473.
The body said the increase, while down on the previous year's hike, was needed to fund infrastructure improvements following a backlash over deliberate sewage discharges and poor water supply resilience.
It announced in October last year that it was seeking permission for a much greater contribution from bill-payers over the second half of the decade.
In return for the money, the proposed business plan promised 10 new reservoirs, to cut leaks and stop the equivalent of 6,800 Olympic-sized swimming pools-worth of sewage spills.
Water UK said the latest hike would unlock a record £14bn investment to ensure supply security and "significantly reduce" the amount of sewage in rivers and seas.”
Ofwat have approved these increases.
The point of the petition is this:-
“If consumers are to be compelled to be investors in the industry without their consent, they should be issued with shares in the companies equal to the value of their investment.”
The information below explains the current situation:-
“Water UK said the increases, equivalent to £27 a year, would leave households with an average annual bill of £473.
The body said the increase, while down on the previous year's hike, was needed to fund infrastructure improvements following a backlash over deliberate sewage discharges and poor water supply resilience.
It announced in October last year that it was seeking permission for a much greater contribution from bill-payers over the second half of the decade.
In return for the money, the proposed business plan promised 10 new reservoirs, to cut leaks and stop the equivalent of 6,800 Olympic-sized swimming pools-worth of sewage spills.
Water UK said the latest hike would unlock a record £14bn investment to ensure supply security and "significantly reduce" the amount of sewage in rivers and seas.”
Ofwat have approved these increases.
The point of the petition is this:-
“If consumers are to be compelled to be investors in the industry without their consent, they should be issued with shares in the companies equal to the value of their investment.”
Why is this important?
The imposition of investment in public infrastructure on consumers should be compensated in proportion to that investment. It can have implications for other public service industries.
