We, the customers, have for 30 years already provided all of the funding necessary for WCs to comply with the law something WCs confirm to Ofwat each and every year.

Where's our money gone? What has happened to it? When can we the customer have a refund? (2/2)

Ofwat Rebecca Pow Why is it ok for China and Abu Dhabi to own our water, but not us?

Feargal Sharkey A former regulator is on the board at Thames water !!!

That's all you need to know.

So water companies say they want to increase our bills by 40% do they?

Let me remind them. Water companies have a statutory obligation to build, operate and maintain sewage systems capable of 'effectually dealing' 'with the contents of this sewers'. @ofwat letter June 21 (1/2)

Australian Investment Bank Macquarie took £3bn in dividends from Thames Water, until selling in 2017, while piling on debt of £10bn.

They are known as ‘vampire kangaroo’.

In 2021 they bought Southern Water.

Ofwat has failed. Nationalise water.

Example #7,529 of Ofwat's hopelessness.

The regulator 'recommends' water companies carry no more than a 60% debt to equity ratio.

Out of the 17 WCs Ofwat regulates just 3 have complied.

The industry clearly couldn't give a flying fig what the regulator thinks.

Zarah Sultana MP Steve W Water companies have been paying shareholders and execs massive dividends and bonuses out of borrowed money, now they're saddled with debt they want us pay more to improve infrastructure they inherited for nothing....theguardian.com/environment/20…

Feargal Sharkey Ofwat Ofwat Ofcom Ofgem
Just who are they exactly 🤔 #Corruption mirror.co.uk/news/uk-news/d…

Ofwat, Ofgem, Ofcom.

I am NEVER going to Hawaii!!!! 😱🐉

Looking for mutuals
Follow me if you like:

- Anime
- Video Games
- Music
- Being lonely and dehydrated
- Discord Friends (links pinned)
- CSGO/FFXIV/Valorant/Omega Strikers
- Handholding
- Shrimp Fried Rice
- 1 cup of butter

Water privatisation is a con.

(Location: Thames Water HQ)

Feargal Sharkey Ofwat Ofwat? Looks like they might have been eyeing up board positions at the water companies.

Here’s OFWAT scrutinising water industry financial manoeuvres for the last 34 years

Feargal Sharkey Ofwat Another bailout of the rich.

You mean the former CEO of water industry regulator @ofwat is now the acting CEO of Thames Water 💧!

Yes, you couldn't make this stuff up.

As you watch this, remember that as Feargal Sharkey pointed out, water companies’ licences have a clause making it illegal to pay dividends if it would
'Impair the ability of the company to finance the regulated water and sewerage business.'

But Ofwat let them do it anyway.

🚨 #GIVEAWAY ALERT!🚨

We want to give YOU, one of our followers, a new gaming PC setup🎁

IN ORDER TO WIN YOU MUST:
(1) Tag 3 friends
(2) LIKE this post
(3) Follow the instructions in the link below! 🔽

tinyurl.com/v62fd79a

#ProjectDaruma #Contest #PDGiveaway #TwitterGaming

Since privatisation Thames Water paid £7.2bn in dividends.

Dividends funded by debt - Thames debt ratio is 80.6%, higher than the OFWAT ceiling of 60%.

Water/Sewage in England & Wales was privatised by the Tories for just £6.1bn.

More disasters await.
theguardian.com/business/2023/…

The board of water industry regulator @ofwat is comprised of 7 non-executive directors all appointed by the SoS for Defra UK

They are expected to comply with and uphold the Seven (Nolan) Principles of Public Life most notably accountability.

So when is THAT going to happen?

Water companies had no debt when privatised. Since then, they've

- borrowed £53Bn 🤯, &

- paid £72Bn in dividends 🤬

WTAF have Ofwat been doing?

Criminal investigations into water firms now!

#ThamesWater #PoliticsLive #c4news #skynews #Newsnight #itvnews #ridge #lbc

How the hell can a company be allowed to get £14bn in debt?
What were the bosses, the auditors, the shareholders and OfWat doing?

'Thames Water boss Sarah Bentley quits £1.6m a year job after giving up her bonus amid fury over sewage leaks.'

TW aren't the only water company in serious financial trouble which raises the question what the fu*k was @ofwat doing the last 30 years?

thisismoney.co.uk/money/markets/…

How some of the water companies have ended up in an over indebted, high dividend, high executive pay, high risk situation - with tax payers underwriting their behaviour with a blank cheque - is beyond me.

Why have Ministers only just woken up to this?

cityam.com/darren-jones-l…

What is the point of Ofwat?