Welsh Lib Dems Attack Severn Trent Over Latest Profits

The Welsh Liberal Democrats have launched a blistering attack on the Severn Trent and Hafren Dyfrdwy water companies, accusing them of fleecing the public at the same time as filling our rivers and seas with raw sewage.

The attack comes following the news that Severn Trent nearly tripled profits in the first half of its financial year to £141.4 million for the six months to September, while also increasing the dividends paid to shareholders.

The news comes despite the fact Hafren Dyfrdwy customers saw their bills rise £128 this year, one of the largest increases across the entire UK.

Severn Trent and Hafren Dyfrdwy also continue to dump raw sewage into local rivers, with 3,057 sewage dumps lasting over 30,000 hours in the last year, an increase on previous years.

Hafren Dyfrdwy, a subsidiary of Severn Trent, serves residents across Montgomeryshire and Northeast Wales.

The company also failed to meet a key drinking water safety standard this year.

In addition to the newly announced profits and dividends, the companies had previously come under criticism from the Welsh Liberal Democrats for paying their executives £3,360,500 in bonuses in the last year.

Commenting, Liberal Democrat Parliamentary Spokesperson Cllr Glyn Preston said:

“Residents across Mid Wales will find it absolutely obscene that Severn Trent and Hafren Dyfrdwy have taken in such large profits and paid out yet more dividends yet have increased prices for customers and continue to dump raw sewage into our rivers.

“My residents were hit with one of the highest water bill increases across the UK last year, yet the water companies think it is fine to boast that they have nearly tripled their profits.

“This is exactly why the Liberal Democrats have been campaigning so hard for the Government to get to grips with our rogue water companies. We need real regulation and a better regulator than Ofwat who have let CEO’s get away with this for far too long.”

Mid & West Wales Senedd Member Jane Dodds said:

“You couldn’t make this up. Water companies have told residents that their water bills will have to rise in order to pay to clean up decades worth of sewage dumping and failing infrastructure, yet Severn Trent’s profits have tripled.

“This is on top of the fact that Severn Trent has already paid out over £3.3 million in bonuses last year in addition to the latest dividends for shareholders.

“These companies are fleecing the public at the same time as filling our rivers and seas with raw sewage. It has to stop. The UK and Welsh Labour governments must introduce stronger regulations to tackle sewage dumping and excessive profit in our water industry, there cannot be any more excuses.”

ENDS