Yorkshire Water £47M Fine By Ofwat

[Deskdiary]

https://www.dailymail.co.uk/news/article-13775953/Britains-WORST-beach-summer-highest-level-poo-water-UK.html

 

No agenda here - I'm just simply looking for the answer.

 

Is this fine ringfenced and they have to pay from profit (assuming they are profitable - I haven't looked), or ultimately will the fine be paid by Yorkshire Water's customers? If the latter, then what is the point in fining them?

 

[scorpiojo]

https://www.thestar.co.uk/news/environment/sheffield-pollution-water-regulator-proposes-ps47-million-fine-for-yorkshire-water-over-sewage-management-4730579

[scorpiojo]

//Ofwat chief executive David Black stressed that the burden of £168 million of fines on three water firms will fall on investors, rather than customers.//

[Deskdiary]

Ta - asked and answered. 

[Old_Geezer]

Except the company controls dividends & prices and over time no one is going to be convinced the consumer didn't eventually end up paying.

[Deskdiary]

It does raise a further question though...I suspect some pension funds will be investors, so is it right/fair that individuals who are members of a fund should be penalised?

[jourdain2]

Don't know if it helps, but Mum would never let us paddle in theWharfe at Ilkley in the 1950s. Further downstream she deemed it OK.  So it is not a new issue. Pathetic, isn't it?  I resent paying Y.Water - our village water comes, fortunately, from a borehole (we are on top of a huge underground lake) so at least it's clean, but it's horribly hard and erratic in supply.

[Canary42]

Of course the customers end up paying the fine - that's what's so stupid about the whole setup.

[Cloverjo]

If investors are happy to take the profits they should also accept losses, through fines or any other way. 

[vulcan42]

Instead of fining them ensure the money is spent on improving what they've been "fined " for?