Huge Profits For South West Water An Insult - Cornish Lib Dem MPs

1.22.53pm GMT Fri 1st Dec 2006

Matthew Taylor MP - "...These profits are an insult to the people of Cornwall."

South West Water, responsible for the highest water bills in the country, has today (Thursday) announced massive profits, causing outrage amongst Cornish MPs.

South West Water's parent company Pennon Group Plc has announced its Interim Financial Results for the half year ending 30 September 2006. The operating profit for South West Water has risen by 8.2% to £84.2m.

News of these rises follows Government confirmation that they will allow South West Water to hike their prices again over the coming few years.

Cornish MPs continue to campaign for a solution to Cornwall's water bills. Truro & St Austell MP Matthew Taylor, commented:

"Frankly, these profits are an insult to the people of Cornwall. While this money has been made nothing has been done to help relieve the heavy burden of Cornish water bills. Cornwall is getting the raw deal on yet another issue, as people have to cope with extremely high bills on extremely low wages.

"The Government has cut water bills in Northern Ireland but is allowing South West Water massive further rises despite their bills being the highest in the country. Today's figures show that the Chancellor can no longer ignore Cornwall's call for a fair deal on water bills, and government intervention is long overdue."

Colin Breed, Liberal Democrat MP for South East Cornwall, added,

"Once again, these figures show that high water charges for South West Water customers are contributing to the success and profits of the company. At the same time, large numbers of low income families and pensioners are hit with bills that that they can ill afford. It's time that Government get involved and ensure that South West customers pay the same as the rest of the country."