Thames Water bills outrage
Water bills for the coming year have been hitting doormats in recent weeks and we have been contacted by a number of incredulous constituents shocked at the increases they are facing. Residents report Thames Water bill rises of 30-40% from last year alone, and Liberal Democrats share your outrage at this out-of-control company.
Whether it’s the reckless pollution of our waterways with sewage, or the continuing refusal to properly fix problems, resulting in repeated closures of the same roads to make the same shoddy ‘repairs’ (don’t we all dread going down Muswell Hill or Crouch Hill these days in case they are again closed for a Thames leak), we customers put up with a lot - and of course we have no option to change supplier.
Against this backdrop, how can any of us not be outraged at the company’s decision to plunge headfirst into £3 billion more debt at an eye-watering interest rate of 9.75% (currently being fought in Court by Lib Dem MP Charlie Maynard), or the recent request by Thames that it be allowed to increase bills by more than 50% over the next five years?
Why are we, as captive customers, being forced to pay for Thames’ failures, whilst huge bonuses have been paid to senior management: over £4.2 million during the last Parliament? We thought bonuses were supposed to be paid as a reward for success.
We are glad that the government has finally listened to Liberal Democrat calls, agreeing to a long-overdue ban on bonuses for water bosses who fail to keep sewage out of our waterways - but this doesn’t go far enough. The ineffective water regulator, Ofwat, must be replaced with a new Clean Water Authority with real power to hold water companies to account, whilst Thames should be put into Special Administration, not allowed to borrow billions to fritter away with no plan in place.
London residents deserve value for money, but instead we are being failed by water companies like Thames, and the government: who are letting them get away with such mismanagement. We need change. We should not have to foot the bill for Thames Water’s failures. That’s why Liberal Democrats have launched a campaign calling for Thames to scrap the price hike, and for government to take the tough actions necessary. You can sign our petition and support the campaign at haringeylibdems.org/thames