Future of Thames Water

Chris Vince Excerpts

Tuesday 14th July 2026 Commons Chamber

[Charlie Maynard (Witney) (LD)]

I will discuss the future of Thames Water, starting with Thames Water’s record of pollution and environmental failure, and how it impacts everyone in my Witney constituency. Thames Water serves the constituency and embodies the systemic failure of the national water sector. Last year, Thames Water pumped sewage into rivers and lakes for 107,822 hours.

West Oxfordshire is very much ground zero for sewage. We have the Thames, the Evenlode, the Windrush, Shill brook and the Cole. We also have WASP, or Windrush Against Sewage Pollution, which has been so active in going after Thames Water’s bad behaviour. It has mapped the illegal sewage spills at Thames Water sewage treatment works and found that, between 2021 and 2025, there were 1,231 illegal spills just in the Witney constituency, and 271 illegal spills in just one sewage treatment works, Faringdon.

West Oxfordshire district council has done great work in trying to hold Thames Water to account, as has WASP, which inspired the Channel 4 programme “Dirty Business”, which many hon. Members will have seen, so well done to Peter, Ash, Geoff and Vaughan. Despite Thames Water’s appalling record, residents have seen their bills skyrocket. I have constituents whose bills have gone up by 50% and 70%; I even have one whose bill has gone up by 93%. That is outrageous, but those bill hikes are not making the situation any better. That is because Thames Water’s financial situation is disastrous. Thames has nearly £20 billion of debt.

[Chris Vince (Harlow) (Lab/Co-op)]

I thank the hon. Gentleman for making his speech, because this is hugely important. Residents in Harlow are also fed up with their bills going up because of what appears to be Thames Water’s incompetence. Does he agree that that should not be the case, and that if Thames Water is so incompetent that it cannot sort out this problem, the Government need to step in and do something about it?

[Charlie Maynard]

I completely agree, and Thames Water’s full-year accounts are out at 7 am tomorrow morning. We will see just what they tell us. It is going to be ugly, not least because the company’s equity is worthless. The largest equity shareholders wrote down their shareholding to zero value and withdrew their board members more than two years ago. When Thames Water’s creditors sought to take on another £3 billion of debt last year, I was given permission to intervene in the High Court and speak for the interests of Thames Water’s 16 million customers, who are paying all these outrageous costs and interest expenses, but would otherwise have had no voice in court.

This Labour Government have slow-peddled for the last two years, and have refused to draw a line under decades of Tory bad behaviour by putting Thames Water into special administration. This approach is costing customers an absolute fortune. Thames Water paid £338 million just in interest expenses in the six months to September 2025. That is £133 million more, just in interest expenses, than it paid in the same period the previous year.

Labour is taking this hands-off approach despite the company’s multiple breaches of its operating licence. Let me illustrate some of those breaches. As I have stated, the company has carried out more than 1,000 illegal spills over four years. It must hold two investment-grade credit ratings as a condition of its operating licence, but it last held any investment-grade credit rating two years ago, in July 2024, and it has undergone a change of ultimate controller; yet the Minister, the Secretary of State and Ofwat have repeatedly refused to answer on that point.