Customers believe that Ofwat should reject the creditors’ deal and put Thames Water into special administration
Over two thirds of Thames Water customers have said that Thames Water should be nationalised and run in the public sector, new polling has revealed.
The polling of 1,000 Thames Water customers for anti-privatisation group We Own It, carried out by Survation, found that a majority (54%) think the water regulator Ofwat should reject the creditors’ deal and put Thames Water into special administration.
The controversial creditors’ deal would involve writing off around 25% of the water company’s nearly £20 billion in debt.
The creditors have also said that a ‘full return to legal, regulatory and environmental compliance’ would not take place until at least 2035-2040, meaning Thames Water could continue polluting rivers until then.
Over half (52%) of respondents consider the creditors’ demand for regulatory leniency unacceptable – double the amount (25%) who considered it acceptable.
Another aspect of the deal is to hike customers’ bills by 35% by 2030.
An overwhelming majority of respondents (79%) said that Thames Water’s plan to increase bills by 35% over five years is unreasonable.
Over one third (34%) expect to be unable to afford this bill increase, and more than half of respondents (53%) have said that it would be reasonable for Thames Water customers to stop paying their bills.
Sophie Conquest, Lead Campaigner at We Own It, said: “For the first time Thames Water customers have been asked their opinion on the future of the utility, and the results provide irrefutable proof of something we have already known for a long time. Customers want Thames Water in public hands.
“People are absolutely sick of paying more and more for a broken water system, all while watching as shareholders continue to extract eyewatering profits.”
Conquest added: “If this government is serious about tackling the cost of living crisis, they must cut water bills. Public ownership would stop huge sums of money from leaking out of our water system in the form of shareholder payouts, meaning reduce costs for billpayers.
“Enough is enough. DEFRA Secretary Emma Reynolds needs to bring Thames Water into special administration now, followed by permanent public ownership. In doing so, this government could slash Thames Water’s debts by at least 40%.”
Olivia Barber is a reporter at Left Foot Forward
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