“A Hugely Unnecessary Mess!” Thames Water Scrambles To Find Cash After Investors Pull Funding

Thames Water bosses have admitted the firm could face the risk of emergency nationalisation as its funding crisis deepens after shareholders refused to give the troubled utility extra cash.
The group - the UK’s biggest water supplier with 16 million households across London and the South East - revealed that its investors had pulled a £500 million funding lifeline that was due to be paid at the end of this month.
Thames Water blamed Ofwat, claiming that the regulator had made its business plan “uninvestible”.
It is understood that investors pulled the funding plan that was agreed last summer after Ofwat refused to bow to the water giant’s demands for a 40% bill hike for customers, an easing of capital spending requirements, as well as leniency on penalties for failing to meet targets.
TalkTV’s Jake Berry discusses the story former CEO of Energy UK Angela Knight.
Click here for more from TalkTV talk.tv
If you need any help visit: talk.tv/helplines
#thameswater #water

[@DavidGetling]

Nationalise, and take Thames Water out of the hands of greedy shareholders!

[@dftfire]

I'd agree, but only if it's permanent. No point in nationalising it, fixing the issues and then selling it again later.

[@PaulDenison-r7r]

Then the bosses pay needs to shrink by 100% until the mess gets sorted

[@DW-dd4iw]

Let Thames Water go bust and then the UK government can buy it for £1.

[@peterknight6535]

Buy back the shares for the price the Government got for them, telling them "the value of shares can fall as well as rise"

[@richardsharpe3364]

Due to the history of the company having been milked by its owners, I have little trust in them repairing themselves in the manner best for the customers. It would simply best for the customers to let the company go bust and see it revived as a nationalised entitity and operated responsibly and closely monitored.. l

[@marksapollo]

But what will actually happen is the bosses given huge bonuses and golden handshakes if they chose to ‘leave’ the company, they will never be fired, and the share holders will keep their dividends and given more, that’s the UK mentality for you.

[@marksapollo]

The directors should be investigated by Police for fraud and failure to have water safety, and illegal sewage dumping, and the investors should have their dividends taken off them.

[@ellismarshall-grant3319]

The regulators have very well paid jobs waiting for them so why should they rock the boat

[@CORNERSTONECITY777]

They need to show us how much the bosses are getting paid and how much bonuses they get, them make them pay it back and fix the pipess and leaks, and stop dumping sewage into the sea.

[@Cornz38]

Because they have utterly failed to invest but instead held champagne parties.

[@Chris7uk00]

I don't agree with some of the things she said, they have had the money over the years from every bill payer to re-invest into the infrastructure of pipes/treatment plants etc, they have not invested enough money back in, all they have done is milked it dry by borrowing money against the asset thames water and paying over 7 billion pounds out to shareholders, now they have a massive bill coming due to interest rate rise on the loan against the asset, basically they are running a company that will become insolvent unless the shareholders/management inject more of the profits/money they have taken out, they are unwilling to do this!, why should we pay 40% more for the bad management and debt of this company, it's there fault, not ours.

[@rlw85]

It needs nationalising

[@billybunter5575]

well if the share holders were less greedy then there would be fairness all round.

[@ronnielees547]

let it go t1ts up, then buy it at a knock down price

[@markrhodes5828]

Dont pay any extra to that lot

[@nicolassTRAVEL]

Not privatization....uk has failed after brexit

[@imbonkers3629]

No you again get over it we’re out 😊