Thames water redonkulous price increases

[CoolHands]

Just got an email saying latest bill ready to view. An overall increase of 39.4% (from 24 to 25). What the actual F

1. 18/02/2025 Bill £ 567.88
2. 16/02/2024 Bill £ 407.49
3. 16/02/2023 Bill £ 361.02
4. 18/02/2022 Bill £ 328.22
5. 07/02/2021 Bill £ 332.02

Their freshwater ‘rate’ they use (multiplied by my property rateable value which is unchanged) has gone from

• £1.0892 to £1.4636 ie 34.4% increase plus fixed charge £78.88 (up from £50.92) ie 54.9% increase

And wastewater from

• £0.7097 to £0.9522 ie 34.2% increase plus fixed charge £128.83 (up from £82.93) ie 55.3% increase

What’s going on, this is smegging ridiculous (I’m in a flat, no meter as property unsuitable. I will be now be leaving the tap on 24/7 and supplying Peckham Spings).

Edit it’s not just me as this is on the bill:

Edited by CoolHands on Thursday 20th February 12:59

[SS2.]

CEO takes £195,000 bonus after first 3 months in the job, approves similar for others in upper management positions;

Thames Water reports being close to bankruptcy and is granted permission for hefty price increases;

Higher revenues look good (temporarily) on the balance sheet and directors award themselves even bigger bonuses in return;

Thames Water reports being close to bankruptcy and is granted permission for hefty price increases;

Rinse, repeat, etc.

Not suggesting it's a major part of the problem, but it isn't a good look for an authority which is performing so badly.

[CraigyMc]

CoolHands said:

Just got an email saying latest bill ready to view. An overall increase of 39.4%. What the actual F

1. 18/02/2025 Bill £ 567.88
2. 16/02/2024 Bill £ 407.49
3. 16/02/2023 Bill £ 361.02
4. 18/02/2022 Bill £ 328.22
5. 07/02/2021 Bill £ 332.02

Their freshwater ‘rate’ they use (multiplied by my property rateable value which is unchanged) has gone from

• £1.0892 to £1.4636 ie 34.4% increase plus fixed charge £78.88 (up from £50.92) ie 54.9% increase

And wastewater from

• £0.7097 to £0.9522 ie 34.2% increase plus fixed charge £128.83 (up from £82.93) ie 55.3% increase

What’s going on, this is smegging ridiculous (I’m in a flat, no meter as property unsuitable. I will be now be leaving the tap on 24/7 and supplying Peckham Spings).

Edit it’s not just me as this is on the bill:

Edited by CoolHands on Thursday 20th February 12:31

Loaded up with debt by Macquarie who extracted their profits years ago and exited the business.

It'll keep getting worse until it goes into state hands.

[Countdown]

It's not just Thames Water. United Utilities have increased theirs by 30%+

[2 GKC]

Shocking they were allowed to pay the dividends they did

[CoolHands]

I honestly had no idea. I knew there’d been some kerfuffle about them wanting more / a bail out etc but didn’t pay much attention (but anyway what’s the point as have no choice)

What is the point in us running round turning led lights off to save 0.2p, freezing cos can’t afford to have central heating on properly etc if then you just get a random £150 whacked onto your water bill? We’re all mugs

[towser44]

United Utilities here, gone up from £24 a month to just under £34 a month.

[CraigyMc]

2 GKC said:

Shocking they were allowed to pay the dividends they did

It was originally debt added for "upgrades" that worked out to be "pile debt into company, take it out for yourselves".

These days it's "take on debt from the investors at bonkers rates so they still get paid irrespective of rules".

It needs to become insolvent, go through administration, the current board needs to be replaced and it needs to be under public ownership for a while to build the actual infrastructure back into something that works.

I'd not hold my breath on any of that happening soon, too much profit to be made from the current hostages-er-customers

Specifically aimed at those on the right: This is an example of a basic civic public utility being sold off. It is NOT the case that everything works better in the private sector.

[milesgiles]

CraigyMc said:

2 GKC said:

Shocking they were allowed to pay the dividends they did

It was originally debt added for "upgrades" that worked out to be "pile debt into company, take it out for yourselves".

These days it's "take on debt from the investors at bonkers rates so they still get paid irrespective of rules".

It needs to become insolvent, go through administration, the current board needs to be replaced and it needs to be under public ownership for a while to build the actual infrastructure back into something that works.

I'd not hold my breath on any of that happening soon, too much profit to be made from the current hostages-er-customers

Specifically aimed at those on the right: This is an example of a basic civic public utility being sold off. It is NOT the case that everything works better in the private sector.

Labour had 13 years to reverse it but didn’t. Left and right both culpable

Once again no long term thinking by anyone. It’s about the next election. At most.

[.:ian:.]

Those prices are really cheap (ah those are not metered costs, but still Thames is £2.47 and £1.54)
Southern Water metered costs are currently £1.95 / £2.46 for supply and waste, but this is going up to £2.75 / £3.79! fookin bandits

Edited by .:ian:. on Thursday 20th February 13:45

[catso]

Just received an email from Severn Trent, telling me that they will be increasing my water bill. They don't actually say by how much though, just some waffle of 'around' and 'about' figures based on an average user.

They do say that my "bill will remain one of the lowest from any water company in England" and that "none of the bill increase will go towards executive director bonuses".

A quick Google suggests an increase of 21.7% and that dividends will also rise...

[BoRED S2upid]

I wouldn’t stand for it get your water from someone else.

[alscar]

CoolHands said:

Just got an email saying latest bill ready to view. An overall increase of 39.4% (from 24 to 25). What the actual F

1. 18/02/2025 Bill £ 567.88

What’s going on, this is smegging ridiculous (I’m in a flat, no meter as property unsuitable. I will be now be leaving the tap on 24/7 and supplying Peckham Spings).

Edit it’s not just me as this is on the bill:

Edited by CoolHands on Thursday 20th February 12:59

I thought the maximum increase had been pegged at 36% but perhaps that was an" average " maximum ?
If it makes you feel any better our new annual bill with them is £2,072.

[ATG]

Loads of investment is needed. Companies can't fund it unless they're allowed to jack up prices to cover the interest. Either the customer or tax payer has to pick up the tab; there is no one else to do it. My vote is for the customers to pay ... because I'm on a borehole. (Boreholes aren't particularly cheap either. At least £100 a year for consumables to keep the UV system working and about another £100 on particle filters and there's salt for the ion exchange system that deals with the manganese and then electricity to run the pump.)

[Countdown]

ATG said:

Loads of investment is needed. Companies can't fund it unless they're allowed to jack up prices to cover the interest. Either the customer or tax payer has to pick up the tab; there is no one else to do it.

Shouldn't the shareholders be financing it, either via the introduction of fresh capital or the reduction in dividends?

[HTP99]

CoolHands said:

Just got an email saying latest bill ready to view. An overall increase of 39.4% (from 24 to 25). What the actual F

1. 18/02/2025 Bill £ 567.88
2. 16/02/2024 Bill £ 407.49
3. 16/02/2023 Bill £ 361.02
4. 18/02/2022 Bill £ 328.22
5. 07/02/2021 Bill £ 332.02

Their freshwater ‘rate’ they use (multiplied by my property rateable value which is unchanged) has gone from

• £1.0892 to £1.4636 ie 34.4% increase plus fixed charge £78.88 (up from £50.92) ie 54.9% increase

And wastewater from

• £0.7097 to £0.9522 ie 34.2% increase plus fixed charge £128.83 (up from £82.93) ie 55.3% increase

What’s going on, this is smegging ridiculous (I’m in a flat, no meter as property unsuitable. I will be now be leaving the tap on 24/7 and supplying Peckham Spings).

Edit it’s not just me as this is on the bill:

Edited by CoolHands on Thursday 20th February 12:59

Mental, I'm Thames Water, I've yet to receive the e-mail, however after seeing this I logged on and had a look at changing my DD to see what happened, currently paying £26 pm on a meter, just me and the wife in a 2 bed, the suggested change was to increase to £43; a 40% hike and to think I paid that when I wasn't on a meter, ouch!

[The Leaper]

Our fresh water supplier is SES Water and they bill us on behalf of Thames Water for waste water. We get billed 6 monthly. Just received a bill and it is the same amount as last time: £193 for 6 months.

[mikees]

Mine has gone up by £38 a month about 37%. Ain’t rateable value a wonderful thing

[g4ry13]

How does Ofwat allow this?

[Sway]

Countdown said:

ATG said:

Loads of investment is needed. Companies can't fund it unless they're allowed to jack up prices to cover the interest. Either the customer or tax payer has to pick up the tab; there is no one else to do it.

Shouldn't the shareholders be financing it, either via the introduction of fresh capital or the reduction in dividends?

Agreed. However we're past that now, the bandits have made off with the dosh, it's too late.

A damning example of poor regulation.

I'm often considered further right than Khan (Genghis, but also Sadiq), but believe water utilities should be state owned - my only thought is that they should be state owned as in 'the state is the sole shareholder', but operated by effective corporate style management and driven by an effective regulator.