Water Companies
(asked on 3rd July 2018) - View Source
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, if he will make an assessment of the potential merits of bringing the water sector back into public ownership.
The Government’s view is that private ownership, backed by strong, independent regulation is the optimum way to meet the ongoing needs of water customers and the environment.
On 1 March, the Secretary of State set out the need for water companies to respond to public concerns over pay and governance:
https://www.gov.uk/government/speeches/a-water-industry-that-works-for-everyone
That is why the Government fully supports Ofwat’s changes to the upcoming price review process to make water companies work as diligently for customers as for their shareholders. These reforms require water companies to share profits with customers, make dividend payments more transparent and ensure that executive pay is linked to customer service.