The lack of accountability in the water industry means time and time again worst practice is rewarded. In 2016/17, six companies missed their leakage targets, with Thames Water’s data showing 677 million litres are being lost to leakages every single day – more than Cape Town uses daily.
This isn’t just money down the drain, it’s carbon spent on purification, transport and distribution wasted when we can ill-afford wasteful carbon practices.
Despite this poor track record, executive pay has skyrocketed with England’s top nine water and sewerage companies earning a combined £23 million in 2017. The highest paid exec took home £2.45 million – 16 times the prime minister’s salary. Six companies even have offshore finance structures in the Cayman Islands.
Instead of lining their own pockets, water companies need to be investing their profits to provide a resilient service. We have had plenty of sound bites from both the secretary of state and Ofwat, but where is the action?”
Luke Pollard is MP for the Plymouth, Sutton and Devonport constituency.