Member

Further, Thames Water has estimated that its legal bill alone is running at £15 million per month and openly stated that restructuring is expected, the advice costs for which will take the bill for that restructuring to above £200 million. Meanwhile, groups of MPs are writing letters urging that the company be taken into special administration. I will leave it there, as the matter is now in the courts. However, I see that the company claims that these costs will not be passed on to customers. I can note only that its experience to date of raising investor money, as we were promised, has not been nearly successful enough. The water companies are now imposing, with Ofwat’s agreement, very substantial increases in water rates for bill payers, who have no choice but to pay up or somehow learn to live without water.