Anglers Against Pollution

27 October 2023

Financial risk of four water companies ‘another threat to rivers and seas’

Despite giving away millions in bonuses and dividends over the decades since privatisation, OFWAT’s annual financial health check has categorised four water companies as being at risk due to poor financial resilience. 

Thames Water, Southern Water, SES Water, and South East Water, who together serve over 20 million people, have all had red flags raised against their performance.  OFWAT has called on Thames Water to “deliver a turnaround in performance”.

The poor performance by these companies comes after Thames Water needed an emergency bailout of £500m earlier this year, while Southern Water received a cash injection of £905m in September 2021.

Both Thames and Southern are two of the worst performing companies when it comes to polluting our rivers and seas. Fish Legal have been given permission by the courts to bring a private prosecution against Southern Water accused of polluting the River Test in Hampshire.

According to research by the University of Greenwich, South East Water spent more on handing out dividend payments and servicing its debt in the last two years than it invested in infrastructure, spending £232m on dividends and debt but only £180m in improving and upgrading its infrastructure.

Stuart Singleton-White, Head of Campaigns at the Angling Trust, said:

“Decades of poor leadership, greed and lack of investment have brought us to this mess. Their poor financial health only adds to the appalling health of our rivers and seas thanks to their mismanagement.

“OFWAT are now considering water companies business plans for the coming five years.  Those plans need to deliver a massive increase in investment to stop pollution, reduce abstraction, and protect our fish. Our environment cannot continue to pay for the poor performance of water companies. OFWAT and the government must make sure there are no more bonuses and dividends until our fish have clean rivers and seas in which they can thrive.”

The Angling Trust will continue to fight for our fish, fishing, and the environment.  You can help by joining the Angling Trust and supporting our Anglers Against Pollution Campaign.

Share

You might also like




Competitions
19 November 2024

Angling Trust 2024 National Coarse Competitions Overview

Angling Trust Head of Competitions Steve Fitzpatrick reveals the highs and lows of the National Cham…
Read more
Marine
15 November 2024

Anglers represented at inaugural Bass Fisheries Management Group meeting…

On Friday 8th November the Angling Trust joined other bass fishery stakeholders for the first Bass F…
Read more
Competitions
05 November 2024

TEAM SAUL PAGE TACKLE WIN ANGLING TRUST TEAMS OF…

    Saul Page Tackle have scooped sea angling’s biggest team match event – the Ang…
Read more
Fighting for Fishing
04 November 2024

The Mighty Trent: A love letter to Britain’s greatest…

Like many anglers I’ve long been an admirer of Doncaster all-rounder Bob Roberts whose no nonsense w…
Read more
Get Fishing | Get Fishing Fund PR
Get Fishing News
04 November 2024

The Environment Agency and Angling Trust Get Fishing Fund…

Monday 4th November launch date £150k of funding will get even more people fishing, more often Grant…
Read more
Club Focus
29 October 2024

New Fisheries Support Service launched to help clubs and…

The Angling Trust has joined forces with the Environment Agency to launch a new service to provide a…
Read more
Anglers Against Pollution
25 October 2024

March for Clean Water – join us on Sunday,…

The Angling Trust is calling on all anglers and supporters to stand with us at the March for Clean W…
Read more
Anglers Against Pollution
23 October 2024

Angling Trust welcomes largest review of water companies since…

The announcement by the government of an independent commission to look at the largest review of the…
Read more
Competitions
21 October 2024

ENGLAND WIN SILVER, RINGER TAKES GOLD, AND MASTERS FINISH…

  The European Feeder Cup is a fledgling international event, but it is one that the Angling Tr…
Read more
Get Fishing News
16 October 2024

‘Lady of the Stream’ photographer Amber Banks Brumby captures…

Amber Banks Brumby is an angler, photographer and educator based in rural Staffordshire, West Midlan…
Read more
Competitions
14 October 2024

ANGLING TRUST APPOINT NEW MANAGER FOR ENGLAND DISABLED TEAM

The Angling Trust is delighted to confirm the appointment of Paul Etherington as manager of the Engl…
Read more
Competitions
14 October 2024

SILVER FOR ENGLAND IN MASTERS FEEDER WORLD CHAMPS

Match fishing at international level can be the proverbial game of two halves as World Champs are fi…
Read more