Environment & Energy
Related: About this forumShit As Metaphor: England's Rivers And Politics Are Both Drowning In It
Fire up a Chariots of Fire-style theme tune for the speech of the defeated Oxford captain in last Saturdays Boat Race, beamed edifyingly around the world: We had a few guys go down pretty badly with E coli, declared Lenny Jenkins (the universitys boat club itself says it cant be that specific on precisely what caused the gut-rot). Having shared a few of the nauseating details, Jenkins concluded: It would be a lot nicer if there wasnt as much poo in the water. Yup, a country that once painted a quarter of the world pink now regrettably advertises itself as mostly brown encircled by its own effluent and pumping it furiously through its river veins just to be sure. As metaphors go, it is on the nose in all senses.
And so to Thames Water, steward of the river on which that internationally famous race is rowed a firm that is £18bn in deliriously structured debt, has had to be extensively threatened to spend so much as 30p on infrastructure investment, spent years being used as a cash cow for shareholders, and has pumped human waste into the Greater London area of the river for almost 2,000 hours already this year. Despite this rapacious shareholder-facing culture, its current foreign investors have now apparently judged it to be uninvestable. Thames Waters relatively new CEO, Chris Weston, must be struck by that feeling that plagued Tony Soprano. Its good to be in something from the ground floor, the mobster judged. I came too late for that I know. But lately, Im getting the feeling that I came in at the end. The best is over.
This isnt the line Chris Weston is going with in public, chirping to the Sunday Times: I think the water industry, the characteristics it has, as a regulated monopoly, is very attractive to some types of investors. He should probably tell that to the ones walking away, even as Thames has spent much of the past five years trying to get Ofwat to let it raise bills, most recently by up to 40%. Ofwat is of course the water industrys regulator if I could do double sarcastic airquotes, I would and perhaps the only entity more full of shit than the rivers and seas its supposed to give one about. Civic-minded individuals such as the campaigner Feargal Sharkey or groups including Surfers Against Sewage have made all the running and worked long and tirelessly to push this issue into the public consciousness, and from there to outrage.
EDIT
You hear a lot about how the water industry was privatised for ideological reasons, but surely few ideologies could be more universally shared than the one that should see them renationalised. Namely: I strongly believe that pumping raw sewage into our seas and rivers is both literally and qualitatively shit. Come on this really is the great unifier. In an atomised and polarised age, you cant knock the sheer percentage of people who would right now be able to put all their other differences aside and unite behind the idea of that one. The public didnt back water privatisation at the time it happened, and they sure as Shirley back it even less now. Plenty of Conservatives will gladly tell you that privatising utilities was always madness, for reasons ranging from economic and civic to national security, and Britain is far from the only place around the world where water privatisation has demonstrably not worked.
EDIT
https://www.theguardian.com/commentisfree/2024/apr/02/thames-politics-drowning-effluent-sewage-boat-race-england-water-industry
Old Crank
(4,671 posts)The government needs to take over the system again. Nothing for the shareholders.