Ofwat announcement: Water firms are raking in the cash whilst paying lip service to investing

EMBARGO: Immediate release

"This is a national scandal. These firms are raking in the cash whilst paying lip service to actually investing, meaning our rivers are poisoned with more sewage by the day.

"Ofwat should be scrapped - its letting these water companies get away with it. It has become their powerless accomplice and even praised some of these rogue firms for their investment in cleaning up rivers.

"It is time Conservative Ministers did an immediate u-turn and vote for a ban on these sewage discharges. They should create a proper regulator with real teeth to save our treasured rivers and beaches."

ENDS

Notes to Editor:

Ofwat press release: 

Some water companies investing less than half of their allowances to improve water network

Ofwat has today revealed that water and wastewater companies are falling behind on their investment plans, leaving promised service improvements behind schedule or undelivered.

Ofwat, as part of the price review process, sets allowances for how much companies can invest over the price control period, to maintain and improve its water network. Between 2020 and 2022 (the first two years of PR19), 14 companies underspent their budget on improving their water network and eight companies underspent their budget for improving their wastewater network.