Steve Reed will meet with officials from every one of the sixteen suppliers that operate in England and Wales, including Thames Water, Yorkshire Water, and Severn Trent, according to information that News was able to obtain.
On the same day that the meeting is planned, Ofwat, the industry watchdog for the water sector, will release draft decisions on companies’ investment plans for the upcoming five years.
Investors in the privatized industry will be keenly monitoring the final verdicts at the end of the year, as they will have an impact on the financial sheets of the suppliers.
The most vulnerable of the 16 firms is Thames Water, which stated while releasing its annual results on Tuesday that it might run out of money in May of next year.
The largest water firm in Britain may yet face temporary nationalisation, even though Sir Keir Starmer’s administration has stated that it does not want to follow this course of action.
During his opposition, Mr. Reed, who is currently the Secretary of State for the Environment, Food, and Rural Affairs, promised to pursue criminal charges against CEOs of water companies for their failure to stop sewage from polluting the waterways in Britain.
