Clive Lewis For Norwich South
I have initiated a letter to the water regulator Ofwat, joined by a cross-party group of nearly 30 MPs, asking for Thames Water to be placed in Special Administration due to financial mismanagement, environmental violations, and risks to billpayers.
What has happened with Thames Water epitomises the systemic issues plaguing the private water sector. Approving a hedge fund bailout would reinforce a broken system where mismanagement and shareholder interests are rewarded at the expense of customers and the environment.
Special Administration offers an opportunity to reform the industry by bringing Thames Water into public ownership and ensuring the public has a voice in managing this essential resource.
How Ofwat responds will send a strong signal about what it deems acceptable for water companies to get away with. This affects all constituents, not just those covered by Thames Water.


