THAMES WATER – UPDATE
Posted on:
Dear member,
The future ownership of Thames Water remains uncertain. As you will have read in the press and media the company’s creditors are in talks with OFWAT about taking ownership of the company. The Government has indicated it won’t allow the creditors and Thames off pollution targets or fines and has stepped up preparations for special administration. We also believe that other potential buyers of Thames are waiting to see what happens.
GMB is talking to the company and engaging with Government and OFWAT on the future of Thames Water. Whoever ends up owning Thames Water we want it to have a long term, stable future, which provides good well-paid jobs and opportunities for its employees. Thames shouldn’t have an owner that is just in it for short term gain. The era of huge debt, big dividends, big senior management pay, whether in salary, bonuses, or retention payments must end. The beating heart of Thames are the thousands of employees working hard day in day out.
The water sector will receive a £104 billion investment funded through increased customer bills. Thames has received a record settlement and has the opportunity to invest in assets and infrastructure and fund well paid jobs. GMB has asked the company for its workforce plan and engage with us on their plans for PR24.
We’ve asked the company for clarity on the closed DB pension schemes, and we’ve followed that up with Government. Thames says the issue is complex. We haven’t received a definitive answer about the TWPS scheme, but we’ll continue to push for it, and keep you informed of developments.
Following on from pay talks we’re meeting with the company on 1st August 2025 to discuss pay bands, midpoints and the pay structure. We’ve had lots of questions following the company’s announcement on pay bands and we will be following these up with senior management.
Recently, GMB workplace representative at Mogden STW has been sacked by the company. GMB believe Keith was singled out and sacked by Thames because he was a trade union rep and spoke out about health & safety breaches. GMB is supporting Keith with his appeal and an employment tribunal claim. GMB won’t standby and allow reps and members to be discriminated against and sacked.
GMB is the largest Union within Thames and the Water Sector. If you want to join our campaign for well-paid secure jobs in Thames Water you can join online at www.gmb.org.uk or complete the form overleaf and return it to your GMB workplace representative.
In Solidarity
Gary Carter
National Officer