Two days ago, I had a twitter discussion about utilities being privatised and if this is needed or not. The debate ended after I pointed out that none of us want water companies to pay out dividends while pumping sewage into our rivers. I also pointed out how I am happy for companies to pay dividends so long as they provide the service we would expect if they were nationalised.
I did not realise that this was going to be in the news today as the same companies that have paid out huge dividends to shareholders now want to raised prices to stop dumping sewage into our rivers and on our beaches. I had tweeted last year about how the law had been changed to allow sewage to be dumped by private companies. Fortunately, this came to the public eye after our family had returned from Devon, but this was not the case for the manager where I work who went swimming in the sea in Devon at this time!
What I said still stands as I think that nationalisation for the sake of it will be too expensive to the tax-payer, at this time. Nationalisation of a utility that is failing to provide the service we would expect of it if nationalised is a different matter, especially if that company is fined for not meeting its obligations and prevented from paying shareholders in that event. I suspect that the water companies will have to be one of them at this rate.
