Replace fines for water companies with transfers of shares to public ownership

Background

Fines of water companies by Ofwat have proven to be ineffective; they are ultimately paid for by higher bills for consumers. Neither the behaviour of these companies or their performance has improved. Instead companies should be compelled to transfer the same value of shares into public ownership.

Additional details

By swapping fines for share transfers, water companies would not be able to 'pay' for their transgressions at the expense of their users. Increased public ownership would provide far more leverage to influence the behaviour of these companies (decisions on dividend payments, bonuses for company executives and infrastructure spending programs, etc). Companies (e.g. Thames Water) that are demonstrably unable to deliver the public service they exist to meet could ultimately become renationalised.

Where it’s popular

Constituencies with the most signatures on this petition.