Water company fines?

[Buckman]

When companies like the water companies get these huge fines, is it the consumer that actually ends up paying these fines making our water quite expensive? Not sure how it benefits the consumer? The same applies to other utilities that get record fines. Sadly as they are probably PLCs, the management cannot be fined for poor performance and also get to keep their jobs and bonuses.

 

[otherclive]

When companies like the water companies get these huge fines, is it the consumer that actually ends up paying these fines making our water quite expensive? Not sure how it benefits the consumer? The same applies to other utilities that get record fines. Sadly as they are probably PLCs, the management cannot be fined for poor performance and also get to keep their jobs and bonuses.

Same as fining health trusts, etc. Give with one hand take with the other. Who pays? Taxpayer.

 

[Sam Vimes]

Fining the water companies doesn't change they're appalling behaviour but you have to go through the motions.😄

 

[Jcloughie]

Fining the water companies doesn't change they're appalling behaviour but you have to go through the motions.😄

Excellent wording, was it deliberate?

John

 

[Sam Vimes]

Oh yes. I've had a lot of mileage out of that.

The Cambridge Vs Oxford boat race wasn't about the rowing but going through the motions.

Make your own up.

Then there's the water company boss who defended her high salary because she had to put up with a load of **** from the customers.

 

[Dustydog]

A number of them have been trying to secure double figure rises for two years. Offwat said no but has agreed a rise later. The truth is the owners and their shareholders have been earning eye watering salaries bonuses and shareholders collecting millions in dividends. The bubble has burst and now the day of reckoning.

And I full agree the only loser will be the taxpayer , as usual🤮

 

[Mr Plodd]

Of COURSE the only result of mammoth fines is an increase in costs to the customer. Personally I think that when companies are fined these eye-watering amounts NO dividends should paid to shareholders tgat financial year, AND senior management forego TWO years worth of pay rises and bonuses.

Hitting the shareholders pockets will ensure they take senior management to task, and senior management missing out big-time will certainly concentrate their minds.

 

[Mel]

Apparently not at all eye watering to companies because ( according to the beeb,) it amounts to eight quid per customer.
I agree with Mr Plodd, hitting them with fines will cause them no pain. Immediate sacking of senior management would focus minds rather more.
Mel

 

[toad a caravan]

Nationalise it.