Thames Water nearing the cliff edge.

[JohnD]

"It would take seven years, and test the determination of Bailey and his colleagues to the extreme, but their investigation uncovered what a court heard was a tale of deliberate corporate wrongdoing and cover-up on the largest scale seen in the 25-year history of the EA.

The water company, which charges its customers to safely treat their sewage, had chosen instead to dump hundreds of millions of litres of raw effluent into protected marine environments because that was cheaper. It had been going on for years and is still the subject of an ongoing criminal inquiry by the EA."

Guardian.

 

[JohnD]

"17 May 2024, 10:15 BST
Updated 2 hours ago

Severn Trent boss defends multi-million pay packet despite sewage spills

The water firm made 60,000 sewage spills last year but insists river quality is improving.

www.bbc.co.uk

The boss of Severn Trent has defended her multi-million pound pay package despite sewage spills by the company rising by a third in 2023.
Liv Garfield was awarded £3.2m in pay, bonuses and shares last year, while over the past four years she has earned nearly £13m.
Severn Trent was responsible for more than 60,000 sewage spills last year which Ms Garfield told the BBC Today programme "doesn't make me feel good".

Perhaps three million quid will make her feel better.

 

[JohnD]

"Thames Water’s biggest shareholder writes off investment"​

"Move by Canadian pension fund is sign of escalating financial crisis at UK’s largest water supplier"

" Gill Plimmer and Josephine Cumbo in London
41 MINUTES AGO
Thames Water’s biggest shareholder has written off its investment in the utility in a sign of the escalating financial crisis at the UK’s largest water company.

A Singapore-registered subsidiary of Ontario Municipal Employees Retirement System, which holds a 31 per cent stake in Thames Water, said in accounts filed on Friday it would make “a full writedown of [its] investment and loan receivable with accrued interest”.

FT.com

Wow, who could have seen that coming?