Water could cost more if utility is unable to borrow

WATER charges could rise if Guernsey Water is unable to borrow money privately.

Director of water services Andrew Redhead with a copy of Guernsey Water’s annual report in which it points out the difficulties it faces funding clean and wastewater projects. (Picture by Adrian Miller, 1331412)
Director of water services Andrew Redhead with a copy of Guernsey Water’s annual report in which it points out the difficulties it faces funding clean and wastewater projects. (Picture by Adrian Miller, 1331412)

WATER charges could rise if Guernsey Water is unable to borrow money privately.

In the utility’s annual report for 2012, it revealed it needed to raise enough money to cover revenue and capital costs for both clean and wastewater functions for this year.

But one of the two options to achieve this would see customers hit by a price hike.

It is unclear how much that would be or how much money Guernsey Water needs to raise.

The report also said the utility made a profit of around £2.8m. in 2012 – roughly £400,000 less than the year before.

Comments for: "Water could cost more if utility is unable to borrow"

Jeff

They only put the bills up by a huge percentage 2 years ago!

It won't be long before enough is enough quite frankly.

markB

Rise again!!!.........time everyone got a borehole and told GW to stuf it.

Local

Until as rumoured they fit meters to peoples boreholes so they can be charged for waste water...

guern

Here we go if it is not Electricity its now water going up whats going on have the people of guernsey got to much money.(No No)

Jeff

What an interesting article:

http://www.thisisguernsey.com/business/2013/01/25/gfsc-chairman-wants-cap-on-fee-increases-for-three-years/

local Guernsey man

It will be cheaper to bath in bottles of highland spring water!

Dave

So this shambles of a water company want to rip us off even more. We pay some of the highest prices in the world already, despite the fact we have so much water and they want us to pay even more. Yet again they want us to underwrite their decades of incompetence. Mr Redhead should be ashamed of himself and his department. It seems these utility companies have carte blanche to ruin a business then pass the bill on to us poor saps and our pathetic States will do nothing again.

Herbert Roth

It never used to be this way. Back in the day utilities ran themselves quietly & competantly, making a small profit each year for the States & retaining a little bit for future developments. No-one complained & everyone was happy.

At some point this quiet conservative Guernsey way of doing things went by the wayside. Where did it all go worng?

guern abroad

Is this what happens when you build a shinny new headquarters.....you spent the piggy bank.

For an Island that has water supplies and does not have to ship in water or run a disalination plant GW seems to have made a real mess of controlling spending.

I.le Page

Why borrow from a commercial bank when the States have millions doing nothing?

Backchat

Wonderful, just like the price of electricity & petrol, increase it till it becomes out of reach for the normal working class person.

islander

Put on Hold until funds or your profits are workable.

Lets get the waste charges that we are paying for cleared first.

Was the waste charges for your new building instead of investing on what we have been paying for?

Billythefish

Wow... What a bunch of shortsighted or ill informed comments. I actually Read this report, it's needed not because of water mismanagement, but because of under investment in waste water, which Guernsey Water only took responsibility for last year. So what they are trying to do is put it all right.

I'm sure youd all be moaning if there were loads of sewage bursts everywhere from our ancient sewers. They try to fix it and you moan about that?

And lastly, Dave, you talk about high costs?? Well, it's not just water is it?? It's treatment and pipes and pumping. And as we're an island we need all the same stuff much larger populations use, so it's bound to be more expensive, we just don't have the economies of scale here.....