The Swindon North MP confirmed he has signed an open letter to Ofwat and Environment Secretary Emma Reynolds, calling on them to reject what he described as an “outrageous deal”. He has also written directly to the company’s leadership.
His comments come amid mounting concern in North Swindon over river pollution, with sewage discharges becoming a key issue for residents and campaigners.
Will rejected the company’s suggestion that fines could instead be reinvested into infrastructure improvements.
“They claim they will reinvest proposed fines into the business. The truth is this should be the standard, they should already be investing this money to improve our waterways and clean up their mess.”
In his letter to regulators, he warned the proposal could see fines waived until 2030, alongside the suspension or weakening of pollution targets. He argued this would send the wrong message across the sector.
“This request by Thames Water, if accepted, could undermine the entire industry. Other water companies would see Thames Water getting away without paying fines purely because of a dire financial situation.”
Stone also pointed to the firm’s financial history, highlighting a significant rise in debt over the past decade.
“At Thames Water, the company’s debts since 2010 have risen from £5bn to near £20bn today.”
In a separate letter to the company, he linked the issue to concerns over underinvestment and shareholder returns.
“The constituents I represent are already paying for the mistakes and missteps of Thames Water of the past… I find the proposal of avoiding fines… to be misguided.”
He said rising water bills during the cost of living crisis had further fuelled public frustration.
In his letter to Ofwat and DEFRA, Will raised concerns about environmental and public health risks if enforcement action is weakened.
“Freeing them from fines now would be a catastrophe for our rivers and seas, and a grave danger to public health.”
He also warned that approving the proposals would amount to rewarding failure.
“By signing off, you would set a clear precedent… that they will be rewarded for their failure by being allowed to set their own rules and regulations.”
Will went on to question the wider structure of the water industry in England and Wales.
“This is about more than just keeping our rivers and waterways clean, it’s about the sovereign protection of the most important thing in our lives, water itself.”
“In my view such an essential commodity should be operated by and for the people… England and Wales [are] the only places on earth where both nations’ water is entirely privatised.”
“The experiment of the privatisation of this natural monopoly… is clearly one of failure.”
He is calling for Thames Water to be placed into special administration, arguing this would allow debts to be restructured and secure a better outcome for the public.
Regulators are yet to announce a decision on the proposed deal. For residents in Swindon, where concerns over polluted waterways remain high, the outcome is likely to have significant local impact.
