Southwark Liberal Democrats call for stronger regulator in light of Thames Water financial concerns

5 Dec 2023
Thames Water Logo

Recent reports revealed the troubled company made profits of £246m whilst debt rose 7% to £14.7bn in the first half of the financial year.

Thames Water, which is currently operating with two interim CEOs following the abrupt departure of Sarah Bentley in June, has said it will “take time” to revive the business.

Earlier this year, the Southwark Liberal Democrats revealed that Southwark Council has fined Thames Water over 600 times for overrunning projects in the past 5 years, totaling over £1.5 Million.

Commenting, deputy leader of the Southwark Liberal Democrats Cllr Rachel Bentley said:

“Thames Water is the largest water company in the UK yet seems to be a law unto itself, acting with impunity and accepting fines as a cost of business. Years of unacceptable conduct and the damning financial situation they now find themselves show that the current system of regulation lacks any real teeth and is unable to hold these companies to account.

The situation facing Thames Water is evidence of the total failure of the Conservative government to crack down on water companies that have done nothing but oversee the slow collapse of our vital infrastructure and pour sewage into our rivers and waterways. Only the Liberal Democrats have a plan to hold these companies fully accountable. ”

This website uses cookies

Like most websites, this site uses cookies. Some are required to make it work, while others are used for statistical or marketing purposes. If you choose not to allow cookies some features may not be available, such as content from other websites. Please read our Cookie Policy for more information.

Essential cookies enable basic functions and are necessary for the website to function properly.
Statistics cookies collect information anonymously. This information helps us to understand how our visitors use our website.
Marketing cookies are used by third parties or publishers to display personalized advertisements. They do this by tracking visitors across websites.