Thames Water, which supplies about 27% of Britain’s population, is grappling with huge debts. Read more at straitstimes.com.
LONDON - The British government is monitoring Thames Water and prepared for a range of scenarios that could include taking it into temporary state ownership as the country’s biggest water supplier grapples with huge debts.
Water companies in England and Wales have become a huge political headache for Prime Minister Rishi Sunak’s Conservative government. “We prepare for a range of scenarios across our regulated industries - including water,” the spokesman said.Britain was forced to call on its special administration regime in 2021 in the energy supply sector, which like water is also a privatised regulated industry, when it rescued energy supplier Bulb after it collapsed.
Public anger has been further stoked by the payment of dividends to investors and large salaries and bonuses to water industry executives. About 1.4 billion pounds of Thames Water’s debt is due to be repaid by the end of 2024 and restructuring specialists Alix Partners are advising the business, the Daily Telegraph said.
Daily headlines about rivers and beaches polluted by sewage released by water companies look set to turn water into a major issue at the next general election, expected next year.
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