How Very Generous!

The privatised English Water Companies have 'apologised' for repeated sewage 'spills'. The companies have also pledged £10bn to pay for the biggest modernisation of treatment systems 'since the Victorian era' (https://www.theguardian.com/environment/2023/may/18/uk-water-companies-offer-apology-and-10bn-investment-for-sewage-spills). Folk complaining about the state of English rivers, are presumably expected to feel gratitude. A few points. Firstly, the raw sewage 'spills', generally involve active pumping. This has often been unrelated to heavy rainfall (when this practice is allowed). Pumping untreated sewage was often done to save money. Massive profits were passed to shareholders and CEOs. This rip-off went on for decades. Some of that money could have been used to upgrade treatment systems. Secondly, upgrading the 'Victorian era' infrastructure was never optional. Climate change, with its associated extreme weather events, means more flooding. Thirdly, the upgrade will take at least a decade (it could have happened years ago). Fourthly, although shareholders will initially 'fund' upgrades, the costs will eventually be recouped from Water Company customers. The companies, of course, are operating monopolies. One might ask why some of the earlier 'creamed-off cash' couldn't be extracted from former Water Company CEOs and shareholders. Perhaps, the only reason English Water Companies are undergoing their 'road to Damascus conversion', is the threat of re-nationalisation?