Josef Chojnowski’s Post

Hearing a bit of an echo in Ofwat Final Determination media coverage: City am article: ‘Water bills set to rise by a fifth as government calls for ‘complete reset’ of sector’ https://lnkd.in/eJpYG2Tb #waterindustry #money #environment #environmentalservices #water #thameswater #watermanagement

💧Water is Life and should’ve been prioritised 14 years ago or when pollution standards were seriously violated & ignored 🙆🏻♀️ So #Labour #govuk must find a way to hold underperforming Sunak millionaire and water companies #accountable #retroactively “The UK's biggest water firm, #ThamesWater, is being put under fresh scrutiny by Ofwat, with a new "oversight regime" to make sure the company improves its performance. #Ofwat said Thames Water must provide a "delivery action plan" and regularly report on progress, assessed by a third party. The regulator said it was considering appointing an independent monitor to report on the company's progress. Thames Water is at risk of a downgrade in the credit rating of its debts from S&P Global, the ratings agency said on Thursday. The government plans to introduce new measures to ensure that money earmarked for investment and improvements are ringfenced and cannot be diverted to pay salaries or dividends. Customer panels will have powers to hold directors and executives to account while compensation for customers for failures to hit required standards could be more than doubled. The crackdown comes at a time of rising consumer anger at pollution but also at a time when some companies - including heavily indebted Thames Water - have asked for leniency due to financial distress.” same as Sunak crying distress when his millions decrease but with no consequences to him 🙃 Start by Auditing unlawful £271m Rwandabill that is non-refundable 🙏

Average water bills in England and Wales are to rise by 36% over the next five years, the regulator Ofwat has said. The typical increase is equivalent to an extra £31 per year. It is less than a 40% rise that water companies had demanded to deal with environmental targets, inflation and the growing cost of debt — but more than the 21% included in the regulator’s draft documents in July

Water companies in England and Wales are rightly facing high levels of scrutiny and are often the topic of conversation. However, some incorrect information about the sector has taken hold.   From dividends and debt to water bills and sewage spills, our latest blog gives you the facts behind the myths.   👇   https://lnkd.in/emg_ns_r

It's right that we, and all water companies, should be open to scrutiny. Effective scrutiny is based on the facts, it supports high quality decision making and drives us towards better outcomes for all. In this blog, Water UK addresses some of the myths…

#thoughtleadership - Dereliction of Duty Why should taxpayers/consumers be liable for infrastructure and capacity expansion costs of a private company? • Has every consumer received a share of annual profits? 🚩Should this materialize then it is a failure of Govt on an unprecedented scale. • Private company governance and strategic decisions are rightly .. private! I have frequently written here on this topic and the most suitable and acceptable solution. • All water companies need to be forced into providing a fully contained sewage system... with capacity headroom to cater for the next century... not some piecemeal solution that isn't fit for purpose... takes 70yrs and consumers have to pay for! ⚠️ Consumers have arguably already paid via bills! 🚩This would demonstrate "Econo.ic Illiteracy "! • As we are seeing reported... these remain viable and profitable businesses as dividends continue regardless! The #centralbanks underwrite the development costs against an aggregate 5yr timeframe. • With many replicable benefits this may be #thegiftthatkeepsgiving ! ©️JC If you haven't yet seen my posts on this topic, & are interested ... please feel free to have a read ... you may find you agree! ⚠️ There are many that ho back a long way covering many threads that may be informative & interesting. #besafe #ceos #leadership #business #strategy #riskmanagement #journalism #europeanunion #europeanparliament #personaldevelopment #UN #NATO European Leadership European Commission European Central Bank Federal Reserve Board Skynewsuk.com SkyNews Inc ITV Studios ITV The Guardian United Nations World Health Organization #travel #health #nhs #tourism #hospitality #aviation #construction Surfers Against Sewage Brain Expansion Group https://lnkd.in/dt3qHVxD

Labour has announced that consumers and the environment are to be at the heart of all water sector decisions going forward 👏 🌊 With the start of a new AMP cycle and a new government in play, the next 5 years are going to be TRANSFORMATIONAL

🚨 **Have we just seen the first shots fired in the battle over the future of the UK Water industry?** 🚨 This morning, Ofwat, the economic regulator for the water industry, released its draft determinations for the next price control period #PR24. The news isn't great for some in the sector. While the final numbers will go into a consultation period over the summer, Ofwat have proposed significantly lower bill increases across most areas than had been requested. This decision means water companies must reassess their plans including for digitisation through the roll out of #smartmetering and investments in critical infrastructure projects to replace #leaking and aging systems. The challenges facing the sector are huge right now. Unless they can negotiate with the regulator through the consultation process, Water companies will need to find ways to deliver essential upgrades and projects that satisfy both their customers and the other water regulators, including the Environment Agency at a much lower cost than planned. Next Wednesday, we will gain more insight into the UK government's thinking when they unveil their plans at the opening of the new parliament. Will they go beyond tinkering with executive pay and push for more meaningful legislation, possibly even a new Water Act? #WaterIndustry #Regulation #Infrastructure #GovernmentPolicy #Sustainability https://lnkd.in/eZCUmA2H

If there was ever a case of privatisation of an industry it’s the water industry in the UK. So if the water companies have huge debts and Ofwat state consumers cash is ring fenced so none of their cash can go to dividends it should mean there are no dividend payments for a long period of time. I guarantee there will still be dividend payments so where is this cash coming from, definitely consumers! I would let the companies go bankrupt so the company can be purchased by the government after restructuring for £1 and then use public investment to sort out the “crap” spewing from the water industry. It may take a decade to fix but clean water and less pollution would be a worthwhile sacrifice. Paying ever more money for the same outcomes of polluted rivers and seas are the definition of insanity! Keir Starmer and Rt Hon Rachel Reeves I would prioritise the water industry privatisation over rail any day! I guess we will all be happy paying more for water bills and help inflation tick upwards? https://lnkd.in/e67rgZ2F