Privatised water is ‘failing us’
ENGLAND’S privatised water industry is an “unsustainable” system that only benefits shareholders, a study has found.
The nine water companies which, with Dwr Cymru, supply most of the water in England and Wales, are £47billion in debt since being privatised debt-free in 1989.
Academics at London’s Greenwich University found households pay £53 a year servicing the debt. Shareholders, mostly private equity groups, have made £56billion in dividends – Dwr Cymru is owned by a not-for-dividend group – and there has been a 40% real rise in English bills. Pressure group We Own It said: “It’s time to take our water back.”
Industry representative Water UK said investment had doubled after privatisation.