£22bn of water bill hikes will go to private investors – not cleaning up rivers
£22bn of water bill hikes will go to private investors – not cleaning up rivers
by theipaper
£22bn of water bill hikes will go to private investors – not cleaning up rivers
£22bn of water bill hikes will go to private investors – not cleaning up rivers
by theipaper
2 comments
[Higher water bills](https://inews.co.uk/news/mapped-where-water-bills-will-rise-the-most-in-2025-3509806?srsltid=AfmBOoozG9l87rwVv9oIFEa4S81xE7_n1zScSY_-gEVJ3rdhOy82fchq&ico=in-line_link) will fund £22bn in payouts to private investors over the next five years, *The i Paper* can reveal.
Last month, the Government said it had secured £104bn in “private sector investment” to upgrade the country’s water infrastructure and tackle sewage pollution.
To pay for this, water bills will rise by £157 per household over the next five years.
However, £22bn from the increased bills will be spent on interest payments and dividends to private investors, a freedom of information request to the water regulator Ofwat has found.
While announcing the investment last month, Environment Secretary Steve Reed explained the money “comes in from investors up front so we can do that spending straight away”, but conceded that the money will be recouped from bill payers.
Now, Ofwat data shows that private investors’ total returns from water bills will rise to £22bn from 2025 to 2030, compared to £11bn from 2020 to 2024.
Feargal Sharkey, the musician and clean water campaigner, said Ofwat and the Government are “protecting shareholders and authorising the continued exploitation of customers and the environment”.
I’ve never been robbed by a bloke in a mask armed or not. Its always been some faceless twat in a suit
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