Severn Trent Share Discussion Threads

[wreckingball] 28/3/2024 12:02

Industry has seen c. £80 BILLION out to directors in the form of inflated pay packages, benefits and bonuses and dividend payments to shareholders including many overseas and remote to the unfolding environmental crisis they have caused. Put simply, that's an awful lot of 'teeth whitening' sessions for the likes of CEO's like Olivia Garfied.....and all the while a lack of proper infrastructure investment.

Yes, the national disgrace we find ourselves in has been avoidable or at least severely reduced.

Severn Trent customers should unite to refuse now paying for what these companies should have been investing in all along.

I believe Olivia Garfield is morally bankrupt and she should walk and get that greedy face out of the trough.


AIMO.

[wreckingball] 28/3/2024 11:50

Whats your bonus payment looking like this year Liv?

We'll see a fiver off this for starters.

[wreckingball] 28/3/2024 11:11

It will be interesting to see if any of the larger overseas shareholders sell stock on the toll of a Labour government being voted in.

Funny isn't it how Conservatives are very happy to see national assets owned by foreign states, but do not want to own and be responsible for them themselves.

[wreckingball] 28/3/2024 11:08

Significant damage to be inflicted on this companies share price over the coming months. Shorts are shorts are shorts. A big opportunity upcoming here imho.

Olivia Garfield is a dreadful chief executive imho and she should walk.

An absolute f+cking grinning shambles imo. I've personally witnessed rivers and water courses wrecked on her watch.

[wreckingball] 28/3/2024 11:01

There will be a major push from consumers electing not to pay the sewerage fraction of their water bills. As soon as this story hits the headlines and a change.org petition goes national viral shorts will absolutely hammer this stock.

And that, my friend, is the ONLY thing that will make this company sit up and listen.

They understand nothing but profit.

Never have national, natural asset been trashed for the interests of so few.

[wreckingball] 28/3/2024 10:58

But you're the only one defending them - you moron!

I don't seek peoples replies.

There is plenty of sh*t coming Severn Trent's way, trust me.

[yump] 28/3/2024 09:30

Ok, I’ll try to help with a bit of advice:

Perhaps you should take some time out to figure out why nobody, including people who agree with the problem of waste in rivers, is replying or engaging with you.

[wreckingball] 27/3/2024 08:50

Five UK water companies appear in court for the first time in relation to allegations of underreporting pollution incidents and overcharging customers as a result
A date has been set for the Competition Appeals Tribunal (CAT) to consider claims being brought on behalf of millions of overcharged household water customers against Severn Trent Water, United Utilities Water, Yorkshire Water, Northumbrian Water and Anglian Water.

Posted on 20 March 2024

During a one-day Case Management Conference (CMC) on Tuesday 19 March 2024, a panel of three, including the President of the Tribunal Justice Marcus Smith, set Monday 23 September 2024 as the start date for the Collective Proceedings Order (CPO) hearing; the hearing is scheduled to last a week, with an extra week in reserve in January 2025. The panel also indicated that the proposed defendants should appoint a joint expert and submit a joint response to Professor Roberts’ claims.

At the CPO hearing, the Tribunal will be asked to approve the claims as suitable to proceed as opt-out collective claims on behalf of eligible class members and approve Professor Roberts as the Class Representative. It will also consider important points regarding the interaction between collective proceedings and the regulatory regimes.

Professor Carolyn Roberts, an environmental and water consultant, is bringing the claims on behalf of all affected household customers represented by law firm Leigh Day.

The CPO is the first stage of the case. If Professor Roberts is successful, the cases will then proceed to trial, which Leigh Day say will take at least two to three years.

The legal claims allege that the water companies have been breaking competition law by misleading the Environment Agency and Ofwat as to the number of pollution incidents, being discharges or spills of untreated sewage they made into rivers, lakes, coastal areas, and other waterways causing damage to the environment.

The number of pollution incidents a company reports to regulators is a key factor in determining the price they can charge consumers for their services. The claims argue that customers have been overcharged as a result of the companies’ underreporting.

It is estimated that, across all claims, more than 20million customers are impacted with potential compensation payments of approximately £800m in total if successful.

Zoë Mernick-Levene, head of Competition Practice and partner at Leigh Day said:

“We welcome the Tribunal’s decision to recognise the need for a swift timetable by setting a joint CPO hearing in September 2024, consistent with the Proposed Class Representative's litigation plan. This brings us one step closer to securing redress for millions of impacted consumers.”

[wreckingball] 27/3/2024 08:48

£800 million in total.

But this is just the start.

Flood gates to open imho.

When found guilty it will be major news and I expect a strong consumer response and mass non bill payment when they come asking you - the customer - to pay for this.

Meanwhile Liv Garfields disgraceful bonus payments will likely continue unabated.

[wreckingball] 27/3/2024 08:25

REPORT OUT LATER TODAY

Will highlight the breadth and scale of illegal waste dumping by our water companies.

I fully expect the sh*t streak of a company known as Severn Trent Water, headed by Grinning Garfield to get more than a mention.

The question is, just how much raw human sh*t have you been illegally slucing, Liv?

Watch this space.

[wreckingball] 19/3/2024 21:48

Leigh Day is a law firm established to combat injustice. Championing the underdog, the firm stands against entities and their wrong doings. Through hundreds of cases, Leigh Day secures compensation, influences legal changes, and restores justice.

Comprising 800 passionate individuals, Leigh Day welcomes those with just causes, assuring them access to objective, professional advice, with a commitment to an open, honest relationship. Our promise is to afford ordinary individuals the same quality of legal advice as state bodies, insurers and multinationals. Regardless of where injustice unfolds, Leigh Day stands as an unwavering force, ready to fight relentlessly for justice.

[wreckingball] 19/3/2024 21:45

Given the pollution scandals around Severn Trent Water..the damage this company has done to our rivers...and now these latest and ongoing revelations.....HOW ON EARTH can OLIVIA 'GRINNING' GARFIELD justify the bonuses she has paid herself?

It's an utter disgrace.

[wreckingball] 19/3/2024 21:39

Prime SHORT opportunity here imho.

I wonder if the 'big guns' (note Gove, it's a metaphor) in White City are locked and loaded.....ready to blitz this down to 2000p.

[wreckingball] 19/3/2024 21:36

Good law firm Leigh Day.

[wreckingball] 19/3/2024 21:34

Five water firms in court over allegations of under-reporting pollution

By PA News Agency

19th March 2024

Five water firms have appeared in court for the first time over allegations of underreporting pollution incidents.

Five UK water companies have appeared in court proceedings for the first time over allegations of under-reporting pollution incidents and over-charging customers as a result.

Severn Trent Water, United Utilities Water, Yorkshire Water, Northumbrian Water and Anglian Water are alleged to have failed to reveal the true scale of sewage discharges and spills made into UK waterways.

They also are alleged to have breached competition law because any under-reporting could have affected the price they could charge customers.

The claims are being brought by Professor Carolyn Roberts, a water resource management specialist, on behalf of an estimated 20 million affected customers.

Law firm Leigh Day, which is representing Prof Roberts, said households could receive a share of up to £800 million in compensation if successful.

Legal representatives for the five firms appeared at the Competition Appeal Tribunal in London for a preliminary hearing in London on Tuesday.

Prof Roberts and the respondents already agreed the claims against all five firms should be heard together.

Industry regulator Ofwat, which is currently carrying out its own investigations into regulatory breaches, also attended the hearing on Tuesday amid questions over how the claims being brought by Prof Roberts might relate or interact with its own probes.

Mr Justice Marcus Smith set the date for a hearing to decide whether the claims are suitable to proceed as opt-out collective claims – where all affected customers are included in the claim unless they request to be removed – and approve Prof Roberts as the class representative.

This “certification” hearing will take place over a week from September 23.

But Mr Justice Marcus Smith also set the date for a second hearing from January 13 2025, which can cover any additional issues due to the complex questions around Ofwat’s own investigations and powers under the Competition Act.

The judge said: “The process is clearly not going to be as straightforward as the usual certification process.”

He later added: “We may not neatly resolve everything in the week allocated as ‘week one’. We very much anticipate and hope to do so but these are knotty issues and we are at an early stage, so we want to have that adverse contingency covered off.”

If certified, the claims can proceed to a full trial, which Leigh Day estimates will take at least two to three years.

The case comes as the UK’s first environmental collective actions.

Claims are also being brought against Thames Water, but the firm was not involved in the hearing on Tuesday since those proceedings are not as not as far along compared to the other five firms.

Mr Justice Marcus Smith said nothing in his rulings on Tuesday will affect Thames Water’s position, although the firm may join the process in the coming days and weeks.

[wreckingball] 19/3/2024 21:20

Picked up a wagon-load of daft bulls on the last weak rally.

This goes lower.

Watch this space.

SHORT SEVERN TRENT PLC - THE ETHICAL SHORT OF 2024 (all imo).