With cost of cleanup to be passed on to bill payers, analysis shows they will also pay £624 more by 2030 to fund investor payouts
Water companies will pay an estimated £14.7bn in dividends by the end of this decade, while making customers pay for new investment to stem the tide of sewage pollution in seas and rivers, analysis for theLiberal Democrat MP Tim Farron denounced the billions going to shareholders as “absolutely scandalous” while families struggling with the cost of living would be facing“The whole thing stinks,” said Farron, Lib Dem spokesperson on the environment.
Hall examined annual dividends paid by companies between 2010 and 2022, which average £1.83bn a year. He said all companies have stated policies to reassure investors that they would get good dividends every year. “That implies a total of £14.67bn would be taken in dividends between 2023 and 2030.” Kelly defended what she said would be modest bill increases as the companies looked to recover the costs of the investment over time. She said the money had to come from somewhere.
Sewage and debris on the Jubilee River in Dorney Reach, Buckinghamshire, a popular spot for wild swimmers.The industry regulator, Ofwat, has to approve bill increases to cover the new investment to the end of the decade. Ofwat said: “Water companies must explain how their proposals will be funded, the proposed impact this will have on bills and their expected return to shareholders and lenders.
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