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Leak targets missed, but water profits up
Former Member
Posts: 1,876,323 The Mix Honorary Guru
http://news.bbc.co.uk/1/hi/business/5101434.stm
I think someone should step in and severely punish them., If £346.5m isnt enough to fix some of the pipes, I don't what is. It's just ridiculous, the problem with private companies is of course the profit incentive, but thats the reason there are the regulators / government. But it seems with the water industry they're too meek and don't do anything.
How about they fine them the sum of their profit and give the money to a contractor to fix the pipes. Sorted :thumb:
Thames Water has missed its leakage reduction target for a third successive year, but has announced a 31% rise in pre-tax profits to £346.5m.
Though the amount of water lost has reduced, it still lost 894 million litres per day to leaks.
The target set for it by the water regulator Ofwat was 860 million litres.
The firm has asked for a drought order which would affect London and small parts of Kent and Surrey. These areas are already subject to a hosepipe ban.
I think someone should step in and severely punish them., If £346.5m isnt enough to fix some of the pipes, I don't what is. It's just ridiculous, the problem with private companies is of course the profit incentive, but thats the reason there are the regulators / government. But it seems with the water industry they're too meek and don't do anything.
How about they fine them the sum of their profit and give the money to a contractor to fix the pipes. Sorted :thumb:
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Comments
Sorry for saying this yet again, but since some people still don't get the message I think it's worth saying: private companies cannot and must not be allowed to run essential public services.
If this government was really a 'Labour' one and it had any guts it would forcefuly renationalise the water companies (and some other services as well which I won't go into now) and spend all the money that needs spending on the crumbling network.
To hell with them and and their precious profits.
Railways are in competition with buses / planes and just taking your own car really, but I agree with water... its just these companies dont seem to have any responsibility whatsoever. They dont even pretend, by meeting the targets, they just sit ack and watch their profits.
And you are quite right that water will soon become the new oil.
in 2003 30,000 people were relocated from Losetho to channel water to the richer state of South Africa
http://news.bbc.co.uk/1/hi/world/africa/3136713.stm
(or from horses mouth)
http://www.lhwp.org.ls/overview/default.htm
reducing the amount of water in Lesotho and allowing the dominance of richer states this is a small example think in 50-100 years with China sourcing water from the poorer states in south west asia.
back to the UK water privatisation has increased bills and profits, a nationalised water board doesnt need profits so bills would be cheaper and more money could be put back into the system, nationalisation makes sense!
Fixing pipes costs money. And who cares about using all the water up? The current guys running it will be dead before it affects anyone!
TBH - unsupprising. Anglian Water are yet to fix a drainage problem that causes floods every time it reains heavily hear. And it has been happeneing since my parents can remember moving here. HUGE flooding - cars can't get past it when it floods quite badly.
And I have seen leaky water mains go weeks to months with no action, except say a little barrier round it.
Shoody private service at jacked up prices.
Whats not to gain? Typical of the UK to even mess up privatising - can be seen with the Rail network too. Do'h.