| Thames Water 22:30 - Jun 28 with 1944 views | Basuco |
How can a company selling a product that falls out of the sky free of charge, sell it for a large amount of money, but still manage to make a loss?
https://www.bbc.co.uk/news/business-66039170
Greed and profiteering. |  | | |  |
| Thames Water on 22:35 - Jun 28 with 1889 views | factual_blue |
thatcher will explain it all to you. |  |
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| Thames Water on 23:24 - Jun 28 with 1837 views | HARRY10 |
The problem goes to the heart of privatisation and what is absurdly known as Thatcherism, but is the economic belief of Alan Walters.
The utilities could run more efficiently if they were freed of government regulation. The same idiotic thought underpins brexit.
Without any serious oversight it became a free for all - "The Australian bank Macquarie was widely criticised for its stewardship of Thames from 2006 and 2017 and faced accusations of asset stripping."
Whereas in Scotland, now run by the government we have
"During 2021-23 we have already invested over £1.7 billion, building on more than £9 billion of investment previously undertaken, since Scottish Water was formed in 2002. "
https://www.scottishwater.co.uk/about-us/who-we-are/investment-programme
i suspect Thames Water will not be the first. Years of underinvestment in other privatised countries will lead to collapse, as with electric suppliers and a few rail companies.
https://blogs.lse.ac.uk/brexit/2017/08/23/economists-for-brexit-predictions-are- |  | | |
| Thames Water on 23:24 - Jun 28 with 1840 views | Swansea_Blue |
I reckon these water companies are taking the piss |  |
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| Thames Water on 06:16 - Jun 29 with 1695 views | SaleAway |
| Thames Water on 23:24 - Jun 28 by Swansea_Blue |
I reckon these water companies are taking the piss |
If only! That's one of the many things they're just pumping into rivers and oceans! | |
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| Thames Water on 07:58 - Jun 29 with 1576 views | Guthrum |
Serious answer: Because it needs to be collected, stored, pumped and piped to where it's needed, collected again after use, purified to the extent it can be returned to storage or released into watercourses. None of which is even remotely free, especially as it often involves elderly, leaky and not easily accessible infrastructure.
Privatisation adds a layer of problems on top, in requiring the company to attempt profitability and offer returns to attract investors. Neither of which is the case for a nationalised concern, which can happily be run at no better than break-even and, tho it does require tax money for fresh investment, that is spread over a very wide base. |  |
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| Thames Water on 08:36 - Jun 29 with 1508 views | EdwardStone |
As an aside to the "falls from the sky for free"....
Many years ago I was involved with a company that constructed Golf Courses.
As the grass playing surface needs to be kept immaculate, the designers had included a series of drainage pipes running into interconnected lakes and then a pump house and irrigation system to keep the fairways, tees and greens watered.
The largest of the lakes was more than 14 acres, so this was a big and expensive system.
The Golf Course company was shocked when Thames water insisted on charging them for using the water used to irrigate.... the theory being that if you have a rain water recycling system that collects water from your roof, it is yours to use. However, the second the raindrop touches Mother Earth, it is now the property of the water company to sell back to you....even if you collect it in your own expensive recycling system. |  | | |
| Thames Water on 08:39 - Jun 29 with 1497 views | blueasfook |
It's not the water you pay for. It's the infrastructure to deliver that water to your home. |  |
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| Thames Water on 08:43 - Jun 29 with 1492 views | Guthrum |
| Thames Water on 08:36 - Jun 29 by EdwardStone |
As an aside to the "falls from the sky for free"....
Many years ago I was involved with a company that constructed Golf Courses.
As the grass playing surface needs to be kept immaculate, the designers had included a series of drainage pipes running into interconnected lakes and then a pump house and irrigation system to keep the fairways, tees and greens watered.
The largest of the lakes was more than 14 acres, so this was a big and expensive system.
The Golf Course company was shocked when Thames water insisted on charging them for using the water used to irrigate.... the theory being that if you have a rain water recycling system that collects water from your roof, it is yours to use. However, the second the raindrop touches Mother Earth, it is now the property of the water company to sell back to you....even if you collect it in your own expensive recycling system. |
That's when it gets ridiculous, charging for use of water which is not supplied to and does not leave your property (except via evaporation or percolation) and uses none of their infrastructure. | |
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| Thames Water on 09:05 - Jun 29 with 1455 views | EdwardStone |
| Thames Water on 08:43 - Jun 29 by Guthrum |
That's when it gets ridiculous, charging for use of water which is not supplied to and does not leave your property (except via evaporation or percolation) and uses none of their infrastructure. |
I suppose that it's the same principle as river extraction, a licence is required to administer the system and this attracts a fee.
But the rage and apoplexy in the manager's face was a sight to behold. | | | |
| Thames Water on 08:15 - Jun 30 with 1297 views | BLUEBEAT |
I know somebody in Duxford who fell out with Cambridge Water big time and refused to use their services. He disconnected himself from their network after finalising his own borehole and purification system. You can draw 20,000 litres per day without incurring a water company charge. The average household uses approx 300 litres a day. It cost him £12K all in, so noticeable savings in the relative short term. |  |
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| Thames Water on 08:23 - Jun 30 with 1286 views | ElephantintheRoom |
I think you’ll find the water coming out of the taps has been filtered through many kidneys already - and purifying it yet again is a time consuming and very costly process - as is delivering and getting rid of it via creaking Victorian infrastructure.
Plus your dad preferred minuscule tax cuts and a few free shares rather than a competent government investing in infrastructure in the 80s | |
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| Thames Water on 11:12 - Jun 30 with 1231 views | Churchman |
| Thames Water on 07:58 - Jun 29 by Guthrum |
Serious answer: Because it needs to be collected, stored, pumped and piped to where it's needed, collected again after use, purified to the extent it can be returned to storage or released into watercourses. None of which is even remotely free, especially as it often involves elderly, leaky and not easily accessible infrastructure.
Privatisation adds a layer of problems on top, in requiring the company to attempt profitability and offer returns to attract investors. Neither of which is the case for a nationalised concern, which can happily be run at no better than break-even and, tho it does require tax money for fresh investment, that is spread over a very wide base. |
It’s really simple. From the BBC:
Former MP Ann Taylor later said of privatising the water industry: "The message is always the same - maximise the cost to the consumer to ensure maximum return to the investor. We should not be surprised at that. After all, that is what private investors expect of their companies."
So if I am a shareholder living in say Canada, am I interested in investing in U.K. water infrastructure or give a monkeys about sewage lapping up on the beaches and filling the rivers? Not a jot. Not interested. Maximum profit is all I care about.
Last October I was in Portugal. The area in the south hadn’t seen rain for nine months and it didn’t rain much anyway, unlike here. The golf courses were green and lush, hosepipes freely flowing onto peoples gardens, hotels etc, not a problem. Portugal has invested in its water industry. We flogged ours and and our utilities off for a few shares and a packet of peanuts. Those who bought shares in them deserve what they get. The rest of us don’t.
They should be bought back. That includes the railways. The government made a big noise about controlling our borders. Rather ironic given we have little or no control over the basics of life within our borders like water and energy. |  | | |
| Thames Water on 11:19 - Jun 30 with 1208 views | Swansea_Blue |
That bit's fine but only a part of it. Presumably what scares the crap out the government is being liable for the HUGE investment needed to repair and future proof all the physical assets. Much better to leave that in the hands of private companies who can then take the blame and potentially be bailed out down the line for just the value of the company.
All a bit of a mess really. | |
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| Thames Water on 14:38 - Jun 30 with 1102 views | BlueandTruesince82 |
Someone I know worked for Thames Water a eew years ago, I can't remember the figure he gave for how much water was lost to leaks but it was millions and millions, an absolutely staggering figure |  |
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| Thames Water on 17:53 - Jun 30 with 1040 views | ibbleobble |
| Thames Water on 06:16 - Jun 29 by SaleAway |
If only! That's one of the many things they're just pumping into rivers and oceans! |
I’d rather that than what DuPont pump in! | | | |
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