Submitted on Friday 19th May 2023
Rejected on Thursday 25th May 2023
Current status: Rejected
Rejection code: irrelevant (see below for details)
Require water companies to fund sewage improvements themselves.
Water companies are making huge profits and paying dividends that amount to many Billions of Pounds every year. Despite this large amount of money the companies have stated that their captive customer base will be required to repay any investment they make.
It is recognised that Ofwat needs to approve the plan before it is implemented but this organisation does not appear to be fit for purpose and will most likely to approve so as to have a simple life. It also recognised that the Environment Secretary has the power to fine the companies but this will only result in the fine being passed to their customers.
It is suggested that the water companies be made to invest their profits/dividends to address the sewage improvements.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
Decisions about price controls for water, which include the cost of investment in infrastructure, are a matter for Ofwat, not the UK Government or Parliament.
Under the Water Industry Act 1991, Ofwat has statutory duty to make sure that companies are able to finance the proper carrying out of their functions. In setting price controls Ofwat's aim is to allow for a return on capital that is no more than necessary for an efficiently run company to get the funding they need from capital markets.
You can find out more about Ofwat's price controls here: www.ofwat.gov.uk/households/your-water-company/profits/
18.227.72.24 Thu, 21 Nov 2024 12:13:52 +0000
