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...Meanwhile, a political and public outcry has erupted over service quality and pollution. “Thames Water is a canary in a coal mine,” said one water company investor....
...Ofwat is due to make a draft decision in June and a final ruling early next year....
...A government spokesman said: “We prepare for a range of scenarios across our regulated industries, including water, as any responsible government would.”...
...“To achieve this water companies have proposed a record £96bn of investment — a near-doubling of current levels.”...
...serves about a quarter of the UK’s population....
...they have a neutral impact....
...South East Water Ltd, the only part of the group regulated by Ofwat, posted a £74mn pre-tax loss compared with a loss of £37.2mn the previous year....
...Last week the government passed updated water insolvency legislation, a move seen by industry experts as an indication that a collapse could be imminent....
...And for that, we’re joined by the FT’s infrastructure correspondent, Gill Plimmer. Hi, Gill. Gill Plimmer Hello....
...The FT’s Gill Plimmer joins me now to talk about it. Hey, Gill. Gill PlimmerHi. Sonja HutsonSo what’s the latest when it comes to Thames Water?...
...It is expected to produce a new business plan in coming days which could include a change in bill proposals....
...commitment to invest a further £500mn....
...On February 29, a Saudi developer closed the financing of Dubai’s Hassyan desalination plant at a record low tariff of $0.36 per cubic metre — a feat made possible by the availability of solar power in the...
...“That’s what happens with a nationalisation,” said one government official....
...It faces a public outcry over sewage....
...A draft ruling is expected by Ofwat in June....
...Shareholders have asked the regulator Ofwat for a 56 per cent increase in bills and leniency on fines....
...“It’s a big ask for a shareholder to write a £500mn cheque with no chance of getting it back,” said an investor in another UK water company. “They have Ofwat over a barrel....
...Thames Water, the government and Ofwat are now rushing to find a solution....
...They could learn a lot from cities such as Phnom Penh.”...
...It said about a third of the squeeze stemmed from delays in completing the Aventra programme, a project to build 443 electric trains in the UK....
...There has been a wave of protests as campaigners including Windrush Against Sewage Pollution revealed that combined sewage overflows were dumping sewage even in dry weather....
...Solutions could involve a debt-for-equity swap that would wipe out Thames Water’s current shareholders, a slide into special administration that would see external administrators seek new investors, or a...
...A further 7,000 emergency pipes, which are designed to be used in the case of a power outage, for example, are still to have monitors installed, starting from next year....
...Private care homes in England are being shut down at a rate that is 22 times higher than state-owned facilities, raising questions over the quality of care in the independent sector, a study based on official...
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