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GreyShuck

Water industry investors have withdrawn billions, claims research (www.bbc.co.uk)

submitted 6 months ago by GreyShuck to c/nature

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Shareholders in some of the UK's largest water companies have taken out tens of billions of pounds but failed to invest, new research claims, with firms planning to raise household bills to fund future spending.

Investors have withdrawn £85.2bn from 10 water and sewage firms in England and Wales since the industry was privatised more than 30 years ago, analysis by the University of Greenwich suggests.

Companies are under pressure following sewage spills and water leaks, which critics have blamed on under-investment in the country's infrastructure.

Ofwat, the industry regulator, said it "strongly refuted" the figures.

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[–] towerful@programming.dev 22 points 6 months ago

You put the prices up because you can and you get more money out of the customers, and then you pass it on to the shareholders because the business you’re in is providing a good return to your shareholders.

Why privatising things like water, communication, power, healthcare etc is a bad idea.
Profits should be derived from excess needs, not essential.

[–] rubikcuber 13 points 6 months ago

[–] drdiddlybadger@pawb.social 7 points 6 months ago

To think that they privatized water and just left it that way.

[–] sirico 5 points 6 months ago

Why stay in the pool after you spilled all your poo in it

[–] BakedGoods@sh.itjust.works 3 points 6 months ago

That's their job. People who want privatisation are either stupid or corrupt, no exceptions.