Thames Water argued that an MP should be forced to pay its hefty legal costs after he represented the interests of the British public in court, a move he described as retaliation for pushing for government control of the crisis-hit utility, the Guardian can reveal. The UK's highest court this week rejected Thames Water's arguments that the Liberal Democrat MP Charlie Maynard should pay legal fees as high as 1,400 per hour.
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The wannabe new owners of Thames Water say they are fully committed to a new transparent and collaborative relationship with regulators. Jolly good. Unfortunately, this embrace of transparency does not appear to extend to the poor old customers. At this late stage in the dance to decide Thames' future, you'd expect London & Valley Water the banner under which the consortium of creditors now sail to opt for straight-talking and openness.
As our water pipes have been left to crumble into disrepair with vital maintenance delayed, the water companies have wasted millions on expensive legal firms tasked with downplaying the extent of the sewage scandal. My constituents will be outraged by what our committee has uncovered. That money should be spent fixing our broken water infrastructure not trying to deny the scale of the problem.
The government recognises the seriousness of the situation facing Thames Water Our position remains that the company should find a sustainable, market-based solution to the current situation. This solution must not only secure the company's long-term financial stability but also deliver a successful turnaround that achieves positive outcomes for customers and the environment.
Thames Water is heavily in debt with £1.27 billion owed to creditors and has incurred £122 million in fines from Ofwat, indicating severe financial distress.
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