It really ticks me off when I read articles about large organisations, in this case Anglian Water and Thames Water, who tell their captive customers (who must buy from a company exclusively servicing their area) that their charges are to rise appreciably, to pay for "this, that, or the other".
Leaving aside the thought that national and strategic services such as water should be state-run, (not for political ideology), my grievance is that in years past they should have been planning for such works and putting money aside from their annual profits, instead of dispersing much of that into shareholder's pockets. They are really now asking the public (their customers) to stump up money they have given away.
Professionally run (for profit) companies should not need to run to their customers for money, they should borrow from the financial markets or their shareholders (current yield 6.8%), or the Government if it is at their behest work has to be done.
They are all at it now, but Northern Ireland water authorities have the most to answer for.
N.B.
My personal belief is that industries that are vital for the upkeep of living standards of any populace, such as water and sewage, electricity, security, education, prison, police and health, should be publicly owned (by the State for the sole benefit of its contributors). Privatisation of such functions merely strips-out money to profit-takers or parasitic shareholders when it should be retained for the betterment of the service; it also fosters a management mentality focused on short-termism and the next annual dividend war with predatory rivals, equity funds, asset-strippers, etc. etc.
State owned in my world means government can steer an enterprise, but not withdraw its profits into any other government holding or "slush fund"; and under no circumstances should any politician hold an executive role. The Labour Party in the UK seem to be touting a similar mantra, but who can believe anything any political party looking for election will say, as for years and years many successive governments have failed water services and water ecologies, preferring to abrogate it's original responsibility into the hands of Ofwat, who more and more frequently seem not fit for their stated purpose of policing the activities of UK water companies.
I know I live in my own "simple world", but whilst I'm kicking the water industry (for it isn't a service), have a read of this; oh and this.
UPDATE Sep 5th 2023: It just keeps happening again and again and again and AGAIN!
UPDATE Dec 4th 2023: Whistle blowers say Environment Agency collude with polluters.
UPDATE Dec 12th 2023: Thames Water (actually Kemble) are at it
UPDATE Mar 28th 2024: Thames Water (actually Kemble) dump 72 billion litres and demand investment - bloody cheeck!
UPDATE Apr 22nd 2024: Thames Water's mismanagement is breath-taking
UPDATE Apr 30th 2024: Thames Water and Salmon - nolonger.
Water quality grievances will rumble on for years, as everything in the UK that requires public financial intervention does, but if you are still with me I am closing this topic with a recommendation to watch this YouTube programme by the New Statesman, titled "Who's to blame for England's sewage crisis?"
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