UNISON Chief Dave Prentis, today warned the Government that merely writing a letter to water companies chiding them over raising their prices will leave customers at the mercy of above inflation increases.
The union is calling for a national inquiry into the out-of-control behaviour of English water companies, for the sake of customers and the environment. Under the cover of providing capital investment, water companies in England are amassing mega-profits by driving up prices through lending themselves large sums at inflated interest rates.
They then offset debt against profit to reduce tax liability.
Dave Prentis, General Secretary of UNISON, said:
“Writing a letter is a ridiculously weak response to the out-of-control behaviour of these water companies. The Government has a duty to protect customers from a future avalanche of price rises. These companies need a rocket up them to combat unrestrained price hikes and their self-serving attitude.
“Water customers have suffered year on year above inflation price rises. Ofwat fails to challenge excesses. It just waives through increases, because it values capital investment at any price.
“The Government must freeze prices and set up a full public inquiry for the sake of customers and our environment.”