Dear Ofwat: don't let Thames dodge its fines, take back its licence instead

Do you think privatised utilities should be allowed to regulate themselves?

Ofwat does! It ran a consultation on plans to accept Thames Water’s proposals for a “turnaround plan” instead of fining them £250 MILLION for breaking the terms of their licence.

When privatised services fail to meet their contracts, they should lose them.

Email Ofwat and call on them to terminate Thames Water’s contract and bring the service into public ownership. (N.B. the official consultation closed on Friday 16th of August)

Ofwat Consultation Team

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Thames Water’s shareholders have repeatedly broken its licence as a water operator.
My response to your now closed consultation, which lasted less than 10 working days, on how to enforce its P26 condition is this: you must not only fine them for their failure, but take back their licence.
They failed to look after our largest utility’s finances, risking the safety of all our investments.
As you found last week, they have failed to look after our rivers and seas by underinvesting in infrastructure and claim they did not know 312 sites where sewage can spill even existed.
They are unlikely to be able to rectify the situation, with their owners pulling proposed investment, listing their shares as worthless, and the company only having enough cash to get to May. This is simply not how a service of national importance should be run.
How is this not enough for them to lose their licence? Accepting their proposals over taking enforcement action is unacceptable.
It sends a message to all water companies and all regulated utilities: regulators will let you mark your own homework.
Similarly, Thames believes it can avoid the £104 million fine announced last week for sewage pollution and has yet to pay £40 million you proposed for its illegal dividend.
It is time for the ultimate enforcement measure. Thames Water’s private owners are a risk to the public’s safety and finances.
Thames Water must lose its licence. All operations must be transferred to a new operator, stewarded in public hands, just like when rail operators fail.
Earlier this year, the Water Minister Emma Hardy said: "Unless shareholders believe that there is a genuine risk of them losing their licence, they have no real incentive to promote good corporate behaviour or environmental performance.
“If multiple and deliberate breaches of environmental law and repeated deception of the regulator is not enough, what fear can those in the sector really have?”
I agree. You can approach the Secretary of State and advise that Thames Water enters Special Administration to stop the situation getting worse and to show other companies they cannot get away with behaviour on this scale.
The Treasury and UK Debt Management Office believe that Special Administration and public ownership are the best way to protect the public finances.
Do not sign off on Thames Water’s Get Out of Jail Free plans. Deliver an enforcement measure — take Thames into Special Administration.

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