A Reading MP has met with the struggling provider Thames Water to address a number of concerns over bonuses and conduct.
At the meeting last week, Yuan Yang, MP for Earley and Woodley, called on Thames Water bosses to take urgent action having already “failed constituents so spectacularly.”
Yang was joined by two Labour MP colleagues, Will Stone MP and Peter Lamb MP of Swindon North and Crawley respectively, in her meeting with Thames Water’s Director of Corporate Finance Fred Maroudas.
At the meeting, the MPs presented Mr. Maroudas with a letter co-signed by 27 Labour MPs in the Thames Water area.
The group, convened by Ms. Yang, have put forward a set of demands to the struggling water company.
The MPs’ demands for action follow customers facing bill increases of up to 50%, continued river and waterway sewage pollution, and severe customer service failures – all while continuing to pay out millions in bonuses to bosses despite government action to prevent them.
They include resolving the most severe cases in which they have failed customers, with a stated timeline for the resolution.
They also seek the return of £2.5m in bonuses paid to senior executives in April, as well as scrapping plans to pay the same package again in December.
They have further urged the company to drop their complaint to Ofwat requesting leniency over sewage fines.
Following the meeting, Ms Yang said: “We had a constructive meeting [today] with Thames Water bosses.
“We raised the main issues that constituents are concerned about, including billing, pollution, and leaks.
“Thames Water told us that they’re committed to making improvements, and we’re committed to holding them to account on these.
She explained: “Thames Water have agreed to a scrutiny meeting with the Thames Water Watch group when Parliament returns in September, and I’m looking forward to receiving their plans for improvement in our constituencies.
“We raised particularly pertinent casework that we’ve received from constituents, which Thames Water have agreed to address.
“My team will be following up on this.”
Ms Yang added: “I see Thames Water’s failure reflected in my inbox every day in casework from constituents regarding long-lasting disruptive roadworks, untransparent and incorrect bills, and leaks that have gone for years without repair.”
“To add insult to injury, while these outrageous failings persist, customers are drowning in increased bills – hiked by an average of 31% for our constituents.”
“It’s disgusting that we as bill payers are being asked to foot the bill for executives’ failings when those same executives are receiving multi-million-pound bonuses.
“Over the last month, my team and I have been running a survey listening to constituents’ experiences with Thames Water.
“We’ve heard more than 140 constituents who’ve shared truly terrible experiences with the company – unresolved leaks in homes, someone unable to shower for a month, and pensioners seeing their bills triple.”
“What we really want to see is some accountability from Thames Water – the message is clear, you’re letting your customers down – so come into Parliament, get round the table with us, and let’s make sure our constituents are getting the answers they need.”
Following the meeting, a Thames Water spokesperson said: “Our colleagues had a very constructive meeting with MPs who visited our Reading office to discuss the record levels of investment we have planned to meet our commitments to customers and the environment.
“No executive directors have received performance-related pay this year.
“A Management Retention Programme (MRP) was established as part of our liquidity extension with the objective of retaining senior management during a complex recapitalisation.
“We have paused its implementation– none of the retention payments have been funded by customers; the company’s CEO is not party to the MRP and has received no payments.
“Thames Water is committed to improving outcomes for the environment and its customers; in order to be investable, we and prospective investors have needed to engage in discussions with our regulators about regulatory easements.”
