B

Baroness Hayman of Ullock (Lab)

Speaking in the House of Lords on 28 April 2025

Debate

Thames Water: Bids

Contribution

I did watch the programmes. I think the straightforward answer to this is that that is why we have Sir Jon Cunliffe carrying out the review, which will look very carefully at the way the water industry has been regulated. One of the things that came across from that programme was the argument that it had been carrying out what Ofwat had asked it to do, which was keep prices low, and because of that there was not sufficient investment. We can look at that in more detail and I am sure that different water companies have interpreted rules from Ofwat in different ways. But the important thing is that we now look very carefully at regulation to make sure that in future it is fit for purpose and we do not end up in situations like we are in at the moment.

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