Water firms focused on returns at expense of environment, say peers

The Extinction Rebellion Dirty Water Campaign held a protest outside Clearwater Court, the HQ of Thames Water next to the River Thames in Reading. The protesters are calling on Thames Water to stop making sewage discharges into the River Thames. Photograph: Maureen McLean/Alamy Live News/Alamy Live News.

Water companies have been too focused on maximising financial returns at the expense of the environment, a House of Lords committee has found.

The investigation by peers into the regulation of the privatised water industry found Ofwat, the regulator, had chosen to keep bills low for customers at the expense of investment in the industry, which is now sorely lacking.