Thames Water has announced that is it updating its recently submitted PR24 business plan, seeking an additional £1.1 billion increase in AMP8 total expenditure to £19.8 billion. It has also proposed that a further £1.9 billion of potential investment is placed into a “Deliverability Assessment Mechanism”. This would increase annual average customer bills by a […]
Interesting think piece from The Mint Magazine, covering water industry performance since privatisation, levels of debt and investment, and options for reforming the sector under a new government. The case for renationalisation Another article from Labour Peer Prem Sikka and published in Left Foot Forward argues the case for renationalisation Let Thames Water go bust: […]
Reported by the BBC One of the biggest investors in Thames Water has slashed the value of its stake in the debt-laden utility by almost two-thirds, weeks after the company admitted that it does not have enough money to make its debt repayments. A fund controlled by Thames Water’s second largest investor, the University Superannuation […]
Ofwat has published the Monitoring Financial Resilience (MFR) report 2022-23, which aims “to promote a focus on efficient investment that secures long-term resilience and delivers long-term value for money for customers and the environment”. According to the report, the water sector has attracted £4.6bn in additional money from shareholders since 2020, helping to improve the […]
Britain’s biggest water company has hired Rothschild and Slaughter & May to help evaluate financing options for its vast balance sheet, Sky News learns Thames Water is facing crunch talks over its finances amid mounting concerns about its ability to service a debt mountain which stands at more than £14bn. Sky News has learnt that […]