Lib Dems call on Government to block Thames Water bill rises 

EMBARGO: Immediate Release

• The party is calling for a Ministerial intervention to block the proposals which could see customer bills rise by at least 40%

• The Liberal Democrats have also demanded the Chancellor hold an urgent Downing Street summit with Thames Water bosses

Following the news that Thames Water's shareholders have refused to inject £500 million of funding into the company unless water bills rise by 40% or more, the Liberal Democrats have called on the Government to block these proposals and ensure customers are not on the hook for the firm’s financial negligence. 

The calls come after reports revealed that Thames Water is pushing the water regulator, Ofwat, to allow them to introduce large increases to customer bills in an effort to stay afloat. 

The Liberal Democrats have also demanded for Chancellor Jeremy Hunt to hold an urgent Downing Street summit with Thames Water bosses to provide reassurance to taxpayers that they will not be liable should the company go bust. 

This follows calls made by the party for the firm to be put into special administration and restructured into a public benefit company. This would ensure Thames Water becomes stable again and no longer be reliant on its failing board, forcing it to work in the interest of customers. 

Liberal Democrat Treasury spokesperson, Sarah Olney MP said: 

“Thames Water are a polluting giant which has accrued billions in debt whilst pumping our rivers full of rotten sewage. 

“Ministers must intervene today and block any attempt by Thames Water to saddle customers with extortionate bill increases. Customers can’t be bailing them out of their own mess. 

“Jeremy Hunt should also call a Downing Street summit with Thames Water’s bosses to reassure taxpayers they will not be on the hook should the company go down.

“Yet all this could still be avoided if Ministers put Thames Water into special administration immediately and reform it into a public benefit company. That’s the best way to ensure this polluting giant will begin working for its customers again."

ENDS

Notes to Editors:

Reports on Thames Water potential bill increases and refusal of shareholders to increase investment can be found reported by the BBC here. 

Liberal Democrat proposals to put Thames Water into Special Administration can be seen here and on public benefit companies here.