The privatised water industry is rubbing its hands with glee, because reservoirs appear as assets on their books, and therefore increase the value of the companies.
It might seem strange that, on an island renowned for its drizzle, we should find ourselves hit once again by water shortages, but this should not really come as a surprise on a planet where global heating is running amok. Six of the hottest years on record in the UK have occurred in the last 10, while three of the hottest summers happened in the last five years. Greater heat drives increased evaporation, and a hotter atmosphere can hold more water vapour, and suck up surface water more rapidly. This can result in so-called flash droughts that can build in a matter of weeks.
Plans for nine new reservoirs – the first for more than 30 years – were recently announced by the Government, but is this really the answer? After decades of gross underinvestment, the privatised water industry is rubbing its hands with glee, because reservoirs appear as assets on their books, and therefore increase the value of the companies.
