There needs to be a clawback mechanism for situations like this. Pathetic that “profits” can be retained when it turns out the reason they even exist is because of corner cutting.
What went wrong with the British Sewage system? Answer: it is privatized.
What went wrong with the British Railway? Answer: it is privatized.
What went wrong with the British Postal Service? Answer: it is privatized.
What went wrong with the British Energy providers? Answer: it is privatized.
What is going on with the failing NHS? It is being privatized.
Were are the profits of the privatized British Oil and Gas? Answer: they are going into the pockets of wealthy businessmen (see how Norway did that).
Why are the enormous leaks in the British drink water network not fixed and grew to 1 trillion liters of lost drinking water in England and Wales via leaky pipes? Answer: it is privatized.
Someone with half a brain would almost recognize a trend here.
How did the average British eligible voter not see that trend?
The Tories were voted in in 2010, again in 2015, again in 2017 and again in 2019.
What is wrong with the cognitive capacity of the average British voter?
Nationalise it. Tell the shareholders to do one.
Why should their customers (including me) pay for their failure.
The problem is that the owners used the company to take out massive loans on behalf of the business. They then essentially stole the money by giving it to themselves.
Reminds me of the massive profits of Centrica. Put bills up as costs increase but still make bumper profits while pensioners freeze (edited for spelling).
They didn’t invest in their network before, choosing to take that money as profits. Now, in order to protect profits, they have to increase bills by 40% to provide the money to solve the problems of yesterday with today’s money, *and* make as much as they’ve become used to.
Can you *feel* the private sector efficiency… **efficiently** sucking every last penny out of your bank account to deposit it into the hands of shareholders.
How about just not paying dividends when you’re supposed to be maintaining the system.
Let them go bust and nationalise it for pennies on the pound.
Considering how much it ended up paying out in dividends (and the fact that it wanted to have leniency for both fines *and* paying out dividends) I’m not sure why the government should. I work in the power distribution sector and one of the things that people talk a lot about is the need to show good value for money to the taxpayer (how much that’s actually done is for the birds, of course) so why should people be happy paying more to a company that has been shown to funnel money to shareholders instead of investing that money on reinforcing their network? Hell, I’ve talked to people in the sector and they’ve very openly admitted that the black water network is (in many places) hanging on by a thread.
*continues to pump liquid shit into rivers* “more money PWEEEEEASE”
If this is passed I can guaranfuckingtee Thames water will report significant profits. Same with all the other utilities. Steal from the hard working and poor and then brag about it.
Why not just charge 40% extra whilst cutting off everyone’s water completely. No one will stop them.
This is nothing but white collar daylight robbery. If the government capitulates they are complicit. When will the British people decide enough is enough.
I say force them into bankruptcy so they can be purchased by the government.
And so the floodgates open (cough). This will happen all around the country within a few years. I’d blame the Tories but Labour won’t roll anything that’s happenined during the Great British Heist back, so that would be wrong of me.
I don’t care if they raise the rates I will just switch to another provider, that is why the free market is always the solution!
Oh wait…..
/S
Guys FFS.
Lamborghinis and Holidays in the Maldives DO NOT PAY FOR THEMSELVES.
Can people start realising that Cost of Living is affecting the shareholders too.
They have been living the high life off privatised utility monopolies and dipping the budget for network improvements for a while now, why the fuck should they accept being poorer???
Give them a break for once.
Can’t we let Thames Water go bust, then nationalise it by buying the company at a knock down price from administrators?
Shareholders be damned, the investment/pension funds knew damn well what they were doing at the time only now the milk has soured they want the taxpayer to pick up the tab, like always!
Being a shareholder should not be risk free! Investments may go up, down or completely down the toilet into the Thames.
Only, of course, this is the UK, OFWAT is toothless, the tories would never nationalise and labour are terrified of rocking the boat floating in shitty river water. So of course OFWAT will fold like a house of cards and acquiesce to Thames Water’s request for larger bills and smaller fines. 🙄😒
Fucking gangsters….remember the beautiful days when the people owned gas, water and electricity. Capitalism is just organised crime in disguise. The world needs a better system that serves the people, not a system where the people serve the elites
It’s shit like this that will radicalise me. Is it possible to organise a mass public strike where we all refuse to pay them a penny? Forget people targeting ULEZ cameras in London, we should be focusing our destructive effort on these cunts
When was lobbying a thing in the UK? is this the same as US lobbying – where its just legal public bribery??
Again I’d like to take the time to highlight that >99% of (developed) countries around the world do not give their water supply to private companies to run. From memory it’s literally only England, Wales and Chile that are, in the WORLD.
How about clawing back the bonuses and dividends to use for infrastructure works that are needed?
They want to increase bills so they can continue paying dividends. They also want lower fines for breaches. So they want to charge us more so they can hand out cash to shareholders while they continue to pump piss and shit into our waterways with less penalties. It’s comical. Let them go bust and nationalise them.
TW left my flat (and 5 other flats) w/o water for almost 2 weeks…it tooke them 1 week just to investigate as at first they claimed there was no issue on their end, then it turned out they had 3 different leaks to fix on their network.
Screw them!
Just moved into a new place. Thames water billed me £1,000 for a year of water. 2 people living here including me. They said the local council sets the price point and it’s based off of property value.
I complained that sum was ludicrous for a little 2 bed flat. They offered to set up a payment plan to “help me.” It’s just extortion. And now they wanna put it up!?!
Severn trent just gone up 14%> nothing we can do about it
its ran by an Israel company hilariously. They need more money for their weapons
They need more money to pay for more temporary traffic lights.
Companies shouldn’t be allowed to pay dividend out if they have any debt.
29 comments
There needs to be a clawback mechanism for situations like this. Pathetic that “profits” can be retained when it turns out the reason they even exist is because of corner cutting.
What went wrong with the British Sewage system? Answer: it is privatized.
What went wrong with the British Railway? Answer: it is privatized.
What went wrong with the British Postal Service? Answer: it is privatized.
What went wrong with the British Energy providers? Answer: it is privatized.
What is going on with the failing NHS? It is being privatized.
Were are the profits of the privatized British Oil and Gas? Answer: they are going into the pockets of wealthy businessmen (see how Norway did that).
Why are the enormous leaks in the British drink water network not fixed and grew to 1 trillion liters of lost drinking water in England and Wales via leaky pipes? Answer: it is privatized.
Someone with half a brain would almost recognize a trend here.
How did the average British eligible voter not see that trend?
The Tories were voted in in 2010, again in 2015, again in 2017 and again in 2019.
What is wrong with the cognitive capacity of the average British voter?
Nationalise it. Tell the shareholders to do one.
Why should their customers (including me) pay for their failure.
The problem is that the owners used the company to take out massive loans on behalf of the business. They then essentially stole the money by giving it to themselves.
Reminds me of the massive profits of Centrica. Put bills up as costs increase but still make bumper profits while pensioners freeze (edited for spelling).
They didn’t invest in their network before, choosing to take that money as profits. Now, in order to protect profits, they have to increase bills by 40% to provide the money to solve the problems of yesterday with today’s money, *and* make as much as they’ve become used to.
Why is this not driving people absolutely insane?
Big Edit: Ofwat told them lol nah [https://www.bbc.co.uk/news/business-68423495](https://www.bbc.co.uk/news/business-68423495)
Can you *feel* the private sector efficiency… **efficiently** sucking every last penny out of your bank account to deposit it into the hands of shareholders.
How about just not paying dividends when you’re supposed to be maintaining the system.
Let them go bust and nationalise it for pennies on the pound.
Considering how much it ended up paying out in dividends (and the fact that it wanted to have leniency for both fines *and* paying out dividends) I’m not sure why the government should. I work in the power distribution sector and one of the things that people talk a lot about is the need to show good value for money to the taxpayer (how much that’s actually done is for the birds, of course) so why should people be happy paying more to a company that has been shown to funnel money to shareholders instead of investing that money on reinforcing their network? Hell, I’ve talked to people in the sector and they’ve very openly admitted that the black water network is (in many places) hanging on by a thread.
*continues to pump liquid shit into rivers* “more money PWEEEEEASE”
If this is passed I can guaranfuckingtee Thames water will report significant profits. Same with all the other utilities. Steal from the hard working and poor and then brag about it.
Why not just charge 40% extra whilst cutting off everyone’s water completely. No one will stop them.
This is nothing but white collar daylight robbery. If the government capitulates they are complicit. When will the British people decide enough is enough.
I say force them into bankruptcy so they can be purchased by the government.
And so the floodgates open (cough). This will happen all around the country within a few years. I’d blame the Tories but Labour won’t roll anything that’s happenined during the Great British Heist back, so that would be wrong of me.
I don’t care if they raise the rates I will just switch to another provider, that is why the free market is always the solution!
Oh wait…..
/S
Guys FFS.
Lamborghinis and Holidays in the Maldives DO NOT PAY FOR THEMSELVES.
Can people start realising that Cost of Living is affecting the shareholders too.
They have been living the high life off privatised utility monopolies and dipping the budget for network improvements for a while now, why the fuck should they accept being poorer???
Give them a break for once.
Can’t we let Thames Water go bust, then nationalise it by buying the company at a knock down price from administrators?
Shareholders be damned, the investment/pension funds knew damn well what they were doing at the time only now the milk has soured they want the taxpayer to pick up the tab, like always!
Being a shareholder should not be risk free! Investments may go up, down or completely down the toilet into the Thames.
Only, of course, this is the UK, OFWAT is toothless, the tories would never nationalise and labour are terrified of rocking the boat floating in shitty river water. So of course OFWAT will fold like a house of cards and acquiesce to Thames Water’s request for larger bills and smaller fines. 🙄😒
Fucking gangsters….remember the beautiful days when the people owned gas, water and electricity. Capitalism is just organised crime in disguise. The world needs a better system that serves the people, not a system where the people serve the elites
It’s shit like this that will radicalise me. Is it possible to organise a mass public strike where we all refuse to pay them a penny? Forget people targeting ULEZ cameras in London, we should be focusing our destructive effort on these cunts
When was lobbying a thing in the UK? is this the same as US lobbying – where its just legal public bribery??
Again I’d like to take the time to highlight that >99% of (developed) countries around the world do not give their water supply to private companies to run. From memory it’s literally only England, Wales and Chile that are, in the WORLD.
How about clawing back the bonuses and dividends to use for infrastructure works that are needed?
They want to increase bills so they can continue paying dividends. They also want lower fines for breaches. So they want to charge us more so they can hand out cash to shareholders while they continue to pump piss and shit into our waterways with less penalties. It’s comical. Let them go bust and nationalise them.
TW left my flat (and 5 other flats) w/o water for almost 2 weeks…it tooke them 1 week just to investigate as at first they claimed there was no issue on their end, then it turned out they had 3 different leaks to fix on their network.
Screw them!
Just moved into a new place. Thames water billed me £1,000 for a year of water. 2 people living here including me. They said the local council sets the price point and it’s based off of property value.
I complained that sum was ludicrous for a little 2 bed flat. They offered to set up a payment plan to “help me.” It’s just extortion. And now they wanna put it up!?!
Severn trent just gone up 14%> nothing we can do about it
its ran by an Israel company hilariously. They need more money for their weapons
They need more money to pay for more temporary traffic lights.
Companies shouldn’t be allowed to pay dividend out if they have any debt.