Thames Water now
"Contingency plans for the collapse of Thames Water are reportedly being drawn up by the UK government and the water watchdog, amid fears that Britain’s biggest water company cannot survive because of its huge debt pile.Ministers and Ofwat are holding discussions about the possibility of placing Thames Water into a special administration regime (SAR) that would take the company into temporary public ownership, according to Sky News."A small point:-"Its former owner between 2006 and 2016, the Australian bank Macquarie, was accused of “asset stripping” as it extracted billions in shareholder dividends while Thames’s debt soared."https://www.theguardian.com/business/2023/jun/28/contingency-plans-reportedly-being-drawn-up-for-thames-water-collapseAnd from the FT:-"Last year the company’s shareholders invested £500mn in the company — the first equity injection since privatisation — and pledged a further £1bn subject to conditions, acknowledging that “further shareholder support may be required”.""After being sold with almost no debt at privatisation three decades ago, UK water companies have taken on borrowings of £60.6bn, diverting income from customer bills to pay interest payments."https://www.ft.com/content/deaf19d6-8da1-4241-a1e6-2635535de88eWell done you chaps!
David Ainsworth ● 1229d27 Comments ● 1208d