Water workers union GMB has levelled serve criticism at water companies for handing billions to investors while failing to invest in the nation’s water infrastructure.
UK water companies on the brink
The criticism comes in the wake of Thames Water being fined £3.3m for polluting rivers with waste and the utility company’s CEO’s sudden resignation last week.
The UK’s water firms have an astonishing combined £60 billion debt, yet has paid billions in dividends to investors, which is now being heavily scrutinised.
Water providers now expect British consumers to foot the bill and the GMB has responded to Ofwat’s comments today that water utilities will be seeking big bill rises as they face huge infrastructure investment demands.
Gary Carter, GMB National Officer, said: “Water companies have showered shareholders and bosses with billions will our infrastructure goes down the plug hole.
“For them to then expect customers and workers to stump up the money to stop leaks and clean up sewage – not to mention service water companies’ massive debts – is an utter disgrace.
“Ofwat has failed miserably to regulate the water companies and should stop trying to defend the indefensible.
“On its watch, water companies have run up huge debt while paying the top brass fortunes and pumping raw sewage into our rivers and seas.
“The Government and Ofwat cannot continue to sit on their hands and do nothing.
“The current ownership model is broken.”