Remainder of year’s water bills will pay dividends and service debts, say campaigners

We Own It says 31% of water bills went on shareholder payouts and company debts in last financial year, while the same percentage of 2024 remains

Tuesday is the day water bills will start servicing debt and paying shareholders rather than fixing leaks and ending the sewage scandal, campaigners have said, dubbing it cost of water privatisation day".

The public services campaign group We Own It has shared analysis from the University of Greenwich that reveals roughly 31% of money collected from water bills goes towards shareholders and paying off debts. Last financial year, an average of 11% of revenue was spent on dividends and 20% went towards servicing debts, while as of 10 September 31% of 2024 remains.

This article was amended on 10 September 2024 to remove a quote incorrectly attributed to Chris Weston, the chief executive of Thames Water.