Fact checking this leaflet from Thames Water received today:
"Improvements" -> EPA Rating is 1/4 stars
"£20b investment" -> £104m fine by Ofwat for underreported sewage spills
"No dividends since 2017" -> £88.4b siphoned by water companies paid to international investors like Macquarie and paying off court cases to avoid blame
"8p per £1 on financing" -> paying the £15b debt interest to corporate bonds and parent companies
"37p on service" -> paying the £104m fine and fixing leaks (600m litres leak per day)
"Tideway Tunnel progress" -> does nothing for the rest of Thames Water's massive 140,000km network
"Climate change and population growth are to blame" -> these have been predictable and heavily modelled for 30 years since privatisation.
No mention of the children killed by swimming in illegally spilled sewage in our waters.
Your bills are going up to fix 30 years of deliberate under-investment, which has left it more broken than ever. You're paying for Thames Water's negligence.
