Thames Water bosses branded a disgrace by ministers for refusing to rule out hefty bill rises to cover their failures
MINISTERS yesterday branded Thames Water bosses a disgrace after they refused to rule out hefty bill rises to cover their own failures.
The firm faced a fresh crisis as shareholders denied them a £500million lifeline.
Thames Water planned to increase hard-pressed consumers’ bills by 40 per cent, around £300, to raise £20billion to fix pipes.
But regulator Ofwat rejected the plan following a stand-off.
Levelling Up and Communities Secretary Michael Gove said: “The leadership of Thames Water has been a disgrace.”
He added: “For years we’ve seen customers taken advantage of by management teams taking out profits and not investing.
“When I was environment secretary I called this out. They haven’t changed their ways.
“I have zero sympathy for the leadership of Thames Water. In my own constituency I have seen how they have behaved in a high-handed and arrogant way towards the consumers who pay their bills.
“So the answer is not to hit the consumers, the answer is for the management team to look to their own approach and ask themselves why they are in this difficult situation.
“Of course the answer is because of serial mismanagement for which they must carry the can.”
Last year, the firm was fined £100million for polluting rivers with sewage and failing targets.
Boss Chris Weston said they could keep going until next June with £2.4billion of liquidity and cash.