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Regulatory Capture

4 articles

When Failure Pays: The Water Industry's Reward System

• via BBC News

When Failure Pays: The Water Industry's Reward System

How privatized water companies in England profit from underinvestment and rising bills

Five English water companies have successfully argued for higher bills to cover infrastructure failures they were supposed to maintain. The Competition and Markets Authority approved an additional £556 million in charges, on top of already planned 36% increases over five years. This comes as serious pollution incidents by water firms jumped 60% in a single year, highlighting a troubling pattern of privatized monopolies profiting from public goods while failing to deliver essential services.

The £518 Million Mirage: How Thames Water Turned London's Water Security Into a Financial Extraction Scheme

• via The Guardian

The £518 Million Mirage: How Thames Water Turned London's Water Security Into a Financial Extraction Scheme

Desalination Disaster and the Illusion of Infrastructure

Thames Water's £518 million desalination plant, built to secure London's water supply, has produced a mere seven days' worth of water over 15 years. This exposé reveals how the plant, plagued by operational failures and exorbitant costs, serves more as a financial asset for debt accumulation than a functional piece of infrastructure. As the company seeks another £535 million for a new project, the story highlights the systemic issues in Britain's privatised water industry, where public service is secondary to wealth extraction.

The Anatomy of Extraction: How Thames Water Turned Emergency Aid Into Executive Enrichment

• via The Guardian

The Anatomy of Extraction: How Thames Water Turned Emergency Aid Into Executive Enrichment

Thames Water's executives pocketed £15.7m in bonuses while 16 million customers face hosepipe bans.

While 16 million customers face hosepipe bans this summer, Thames Water's executives have successfully converted a £3bn emergency lifeline into personal windfalls totaling £15.7m. The company that can't maintain water supplies during a shortage somehow found £2.46m to pay 21 managers in April—from funds meant to prevent corporate collapse.