Swindon North MP Will Stone urges Ofwat to reject Thames Water fines deal

Will Stone, the MP for Swindon North, was reported on 7 April 2026 to have signed an open letter to the regulator Ofwat and the Environment Secretary, Emma Reynolds, asking them to reject a proposed deal that would protect Thames Water from regulatory fines. He called it an "outrageous deal" and also wrote directly to the company's leadership.

Swindon24 reported that concern was growing in North Swindon about river pollution, with sewage discharges a key issue for residents and campaigners.

What was the proposal?

Thames Water had suggested that proposed fines could instead be reinvested in its infrastructure. In his letter to the regulators, Mr Stone warned that the proposal could see fines waived until 2030, with pollution targets suspended or weakened.

He rejected the reinvestment argument, saying investment in waterways should already be standard. Freeing the company from fines, he wrote, "would be a catastrophe for our rivers and seas."

He said the request could "undermine the entire industry", because other water companies would see Thames Water avoiding fines on account of its finances. He said the company's debts had risen from £5bn in 2010 to close to £20bn.

What did he want instead?

Mr Stone called for Thames Water to be placed into special administration, which he argued would allow its debts to be restructured. He described the privatisation of water in England and Wales as "one of failure" and said rising bills during the cost of living crisis had added to public frustration.

Regulators had not announced a decision on the proposed deal when the report was published. The report did not include a response from Thames Water.

Source: Swindon24.