Southern Water - The Company that just keeps taking
Why are Southern Water’s capital funding requirements so huge?
Source References
Southern portrays these funding requirements as being essential for innocently sounding ‘infrastructure renewal’, ‘upgraded treatment works’ and ‘environmental projects’. Indeed, such legitimate needs are sure to exist.
But, and it’s a BIG BUT: Is the scale of its capital needs ONLY covering legitimate NEW requirements, or does it also include the LEGACY REMEDIAL COSTS OF ALL ITS ENVIRO CRIMES for which it has been convicted?
It is strongly suspected that a large chunk of Southern’s £8billion new capital requirements will go towards those remedial costs. In other words, through hyper-inflated bills (whether dubbed ‘price gouging’, ‘creative accounting’ or whatever), Southern Water appears to be trying to force defenceless customers to pay towards the legacy remedial costs of the company’s enviro crimes in which they had no part and no liability to underwrite.
If true, such suspected sleight-of-hand by hiding the remedial costs of its enviro crimes under bland terminology and legitimate sounding purposes, would be gaining dishonest financial advantage by deception. That would amount to fraud and, in view of the millions of customers thus deceived, it would be mass corporate fraud.
Unless and until there are any determinations by courts or relevant authorities against Southern Water and its executives on such matters, the mass corporate fraud inference remains undecided.
