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Thames Water lobbying government to let it increase bills by 40%

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Image of a burst water main.
Image of a burst water main.

https://www.theguardian.com/business/2024/feb/28/thames-water-lobbying-government-bills-dividends-fines-breaches-taxpayer-bailout

UK’s largest water company also calls for dividend payouts and lower fines for breaches to avoid taxpayer bailout

Thames Water has been lobbying the government and regulators to let it increase bills by 40%, pay lower fines for breaches and keep paying out dividends as part of efforts to avert a taxpayer bailout, according to a report.

The UK’s largest water company was trying to strike a deal with the watchdog Ofwat that would give it permission to charge customers more to avoid having to be taken over by court-appointed special administrators, the Financial Times reported.

That plan would give Thames Water permission to increase bills by 40% by 2030, while also offering more leniency around regulator fines and rules around the dividends it can pay to shareholders.

It comes as the company, which serves more than 15m households, attempts to deal with a debt pile of £14bn and widespread criticism over sewage dumping.

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https://www.theguardian.com/business/2024/feb/28/thames-water-lobbying-government-bills-dividends-fines-breaches-taxpayer-bailout

Continue ReadingThames Water lobbying government to let it increase bills by 40%

Britain’s energy crisis ‘growing by the week,’ campaigners warn

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Image of cash and pre-payment meter key
Image of cash and pre-payment meter key

https://morningstaronline.co.uk/article/britain-energy-crisis-growing-by-the-week-campaigners-warn

New research shows household debt has hit five-year high

BRITAIN’S energy crisis is “growing by the week,” campaigners warned today after research found that household debt has hit a five-year high of £216 as winter approaches.

The number of homes already owing money to their energy provider is up 11 per cent on last year, according to a survey by comparison website Uswitch.

Of those in arrears on their gas and electricity bills, 40 per cent say their debt is higher than last year and 28 per cent believe their position is about the same as 12 months ago.

Almost one in seven say they have gone from being in credit a year ago to owing money now.

More than half of households are worried about how they will pay their energy bills this winter and 49 per cent say they will wear extra layers of clothing at home so that they can manage with less heating.

And 25 per cent say they will not turning their heating at all, even when it is cold.

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https://morningstaronline.co.uk/article/britain-energy-crisis-growing-by-the-week-campaigners-warn

Continue ReadingBritain’s energy crisis ‘growing by the week,’ campaigners warn