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...It is a “sensitive” subject “particularly as water companies need to raise significant levels of new equity and debt to support the ramp-up in investment planned”, he said....
...“To achieve this water companies have proposed a record £96bn of investment — a near-doubling of current levels.”...
...They’ve already paid a high price through the company’s poor complaints record and service levels,” said Mike Keil, chief executive of the CCW....
...2050 to maintain current levels of service....
...Bonds held at this level of the corporate structure have previously been considered bulletproof but Thames Water’s travails have challenged this view....
...levels of debt....
...One person with knowledge of the position said these levels were lower than Elliott’s worse-case expectations for these bonds, and the hedge fund firm believes the debt could potentially make it out of Thames...
...I once asked a director of one of the main water companies what input they received from the political level....
...What’s missing are new private shareholders for Thames Water. High distress levels and uncertainties make that no surprise....
...the business (and for Ofwat the allowed level of water tariffs)....
...Already-poor service levels would deteriorate further. In the meantime, there is a risk of Thames’s toxicity starting to pollute other water companies....
...Since then, fears over its financial health have reached feverish levels....
...High levels of E coli have been found in the river....
...Water investors say the rules have been excessively restrictive — regulator Ofwat dictates investment levels and consumer charges....
...In areas classed as facing a drought “emergency” — which currently include Barcelona — hotels will be limited to using 100 litres of water per hotel bed a day, the same level as for local residents....
...Thames Water has more than £18bn of debt including £15.6bn of net debt at the operating company level....
...Kate Holme, director of strategic partnerships at non-profit body WaterAid, says that, while she is seeing a “high level of engagement” with drinks businesses, companies could do more to ensure that communities...
...The annual varsity boat race will take place this weekend despite warnings over high levels of “dangerous” pollution caused by sewage in the river Thames. What is the political fallout?...
...In Singapore and China, by contrast, water is treated as a cabinet-level issue....
...As we transform the way we regulate the industry, this high level of transparency is critical,” she added....
...“The journey to achieving universal access [to water] by 2030 . . . requires substantial funding beyond the current level,” says Samwel Alima, water secretary at the Ministry of Water, Sanitation and Irrigation...
...richard.waters@ft.com...
...In addition to its familiar terrestrial uses — drinking, cooking, washing, nurturing plants and so on — water will be split at the molecular level by solar electricity into its atomic components — oxygen...
...“Next year will see record levels of investment from water companies to secure the security of our water supply in the future and significantly reduce the amount of sewage in rivers and seas,” said David...
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