Less Profit or Less Waste?
Because of the recession (yes we're allowed to say that now) firms are apparently using less water according to the BBC news business story Recession hits Severn Trent sales.
Severn Trent Water supply water to the Midlands and Wales (as if there wasn't enough water in Wales aye?) where industry has been hit hard by the economic downturn. Jaguar Land Rover, Woolworths and MFI have been quoted as part causes for the drop in demand and as such, Severn Trent have issued a profit warning - they will earn Â£25 million less revenue than they received last year.
A caption under the image on the BBC story reads
Severn Trent says firms are cutting back on their water use
As if that was a bad thing, and this cynicism is further reinforced by broker Credit Suisse adding:
Overall we think the news is negative, not just for Severn Trent, but for sector sentiment.
Severn Trent Water's shares were apparently down by 46p to 1141p this afternoon.
Of course, this story is from BBC Business News, and as far as business goes this is a bad thing. Less water use, less profit, share values down.
But this is a negative thing?! This story should be celebrated by greens everywhere; whilst cynical companies catch the water that falls out of the skies and clean it when we've flushed it, they have still been making an absolute fortune. It just goes to show that this is more about money than service, so if this is just one of the country's water companies you have to wonder how much they are collectively squeezing out of people.
Saving water hits the pockets of these water companies and I'm pleased that my showers, reduced-flush toilet and rainwater butt in the garden are reducing my own water use, but these companies still thump us with an extraordinarily high water bill each year and then feather their own nests with the fat profits.
So come on people, save even more water. I think I'm going to have to get a water meter fitted so I can reduce my bills and hit their profits a bit more.