Business, Thames Water, Water industry, Utilities Business | The Guardian
Customers know bills have to rise, but shareholders should also pay, as they would at a conventional company that overextended itselfIs the board of Thames Water having a laugh? Having been told last month by regulator Ofwat that a plan to hike customers’ bills by 40% over five years was unacceptable, and that 23% would be nearer the mark, the company has returned with a counter-proposal: how about 52%, or 59% if one throws in conditional spending on big projects?Since these figures don’t include inflation, one can add a few quid to projected average bills of £666 or £696 in 2030, versus £436 today. It would be a miracle if Ofwat, which was talking about £535 before inflation, agreed to anything like that. The August to December consultation period allows for revisions, but regulator and company look to be oceans apart. Continue reading…
Customers know bills have to rise, but shareholders should also pay, as they would at a conventional company that overextended itself
Is the board of Thames Water having a laugh? Having been told last month by regulator Ofwat that a plan to hike customers’ bills by 40% over five years was unacceptable, and that 23% would be nearer the mark, the company has returned with a counter-proposal: how about 52%, or 59% if one throws in conditional spending on big projects?
Since these figures don’t include inflation, one can add a few quid to projected average bills of £666 or £696 in 2030, versus £436 today. It would be a miracle if Ofwat, which was talking about £535 before inflation, agreed to anything like that. The August to December consultation period allows for revisions, but regulator and company look to be oceans apart.
