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Water Bill

A virtual pub for off topic, light hearted pub related banter and discussion. No trainers
monabri
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Water Bill

#655235

Postby monabri » March 22nd, 2024, 11:56 am

As expected, my Severn Trent Water bill has increased. What is Ofwat doing allowing a 15% increase?

Leothebear
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Re: Water Bill

#655237

Postby Leothebear » March 22nd, 2024, 12:06 pm

Surely you're not begrudging the execs their bonuses?

The water companies are the very worst examples of the privatised monopolies.

UncleEbenezer
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Re: Water Bill

#655252

Postby UncleEbenezer » March 22nd, 2024, 12:47 pm

I expect the ofwat and water company websites will tell you all about it.

Of course, a monopoly provider whose prices are determined by a regulator is a long, long way from the market economy that most still preach. I'm not sure how valid the reasons originally were for privatisation (something must be done - this is something?) but the structures created at the time are clearly overdue an update.

Nimrod103
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Re: Water Bill

#655362

Postby Nimrod103 » March 22nd, 2024, 11:05 pm

UncleEbenezer wrote:I expect the ofwat and water company websites will tell you all about it.

Of course, a monopoly provider whose prices are determined by a regulator is a long, long way from the market economy that most still preach. I'm not sure how valid the reasons originally were for privatisation (something must be done - this is something?) but the structures created at the time are clearly overdue an update.


The reason for privatizing the water companies was much the same as PFI's introduced by Labour. It's to raise a lot of new money for investment, without it appearing on the country's balance sheet, in the form of increased public borrowing. There was always a bit of an argument for introducing private management and cost control skills. But fundamentally, the water industry doesn't lend itself to a competitive environment.


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