Thames Water: Union Warns Government re Finances
The government has been warned by a leading union not to ignore the unfolding “car crash,” at Thames Water. The warning from GMB comes in the wake of a Guardian investigation that suggests Britain’s largest water company is in a more dire financial state than previously acknowledged.
Insiders revealed to the newspaper that Thames has failed to address serious safety concerns, upgrade crucial IT systems and has allowed a culture of intimidation among staff. It was reported that £23bn of its assets are in “urgent need of repair,” and the water supply to its 16m customers is on a “knife-edge,” Additional sources claimed that the company’s IT systems are so outdated they have become an easy target for cybercriminals and are “falling apart.”
Gary Carter, GMB National Officer, said: “Previous owners have left Thames Water in a perilous state no one will be surprised by the latest revelations,” He added: “Thames needs committed long term investment just to keep operating, never mind stop the leaks and cut the sewage spills. Then it must be held to account and deliver for customers, with its skilled workforce central to the turnaround.”
He concluded: “Ministers can’t sit back and watch the car crash.”, as reported by City AM.
However, a government spokesperson insisted that the company “remains stable” as ministers closely monitor the situation.
Thames Water has refuted claims made in a Guardian article, asserting that it does not “accurately reflect Thames Water’s operations or its culture, where the wellbeing and safety of our colleagues and customers is always our highest priority.”
The company emphasised: “We supply 2.6bn litres of water every day, rated among the highest quality of drinking water anywhere in the world, and all our sites operate to stringent health, safety, and security standards.”
Addressing concerns about infrastructure, Thames Water acknowledged: “We’ve been very open about the ‘asset deficit’ we face, and the challenges we will have meeting future demand if it’s not addressed. That’s why we have set out an ambitious plan for 2025-2030 which asks for £20.7bn of expenditure and investment with an additional £3bn through gated mechanisms, so that we can meet our customers’ expectations and environmental responsibilities.”
A spokesperson further stated: “Further, we take our requirements to protect customers’ personal data and maintain essential services extremely seriously. We regularly review our systems to ensure their continued reliability.”