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...Water companies are not automatically consulted on proposed housing developments, which have a statutory right to be connected to the sewer system....
...companies like Thames Water start to unravel,” said Ash Smith, of Windrush Against Sewage Pollution campaign....
...UK water companies including Thames Water have substantial amounts of such inflation-linked debt....
...The water companies tend to have corporate structures with multiple layers, many of which exist to raise finance....
...Two Chinese state-owned banks hold a crucial role in the future of Thames Water, as part of a group of lenders involved in a stand-off over debt at the parent company of Britain’s largest water utility....
...“To achieve this water companies have proposed a record £96bn of investment — a near-doubling of current levels.”...
...Water companies are facing their biggest protests since the industry was privatised 35 years ago....
...for billions of dollars in subsidies, and the Environment Agency for England and Wales is allocating £11mn collected in fines against water companies, to environmental restoration projects....
...I once asked a director of one of the main water companies what input they received from the political level....
...Desalination taps an almost infinite resource — some 97 per cent of the world’s water is in seas and oceans. Costs have plummeted....
...Only about 15 per cent of the country’s water resources have been developed. Almost all farmers depend on rain, as they are not able to store rainwater or pump water from rivers....
...For all the talk about complexity, the business structures of private water companies are straightforward....
...They announced on Thursday they were not willing to inject new equity into the company. Some of this estimated loss has already been booked in the accounts of funds such as Omers....
...Thames Water, the UK’s biggest water company, provides water and sewage services to 16mn people, or around 25 per cent of the population....
...The company — which supplies 16mn people, or about 25 per cent of the population of England and Wales — is struggling to stay afloat after its shareholders refused to put more money into the heavily leveraged...
...The nearly £15bn of debt held by the Thames Water utility companies that sit below Kemble should be unaffected by the default....
...This month, the parent company of Thames, the UK’s biggest water group, defaulted on a £400mn bond, part of the group’s £18.3bn stack of debt....
...Debt is secured by share pledges on the opco vehicle, Thames Water Ltd, so insolvency could mean lenders take possession of a big water company no one wants....
...The water company’s shareholders at the time, which included Australian asset manager Macquarie, argued that its debts were too large and the risks of tunnelling near key landmarks such as the Houses of...
...In the meantime, there is a risk of Thames’s toxicity starting to pollute other water companies. True, a SAR would not be popular with bondholders, assuming they were forced to take a haircut....
...He added there were lessons to be learnt from the travails of public sector monopolies such as water companies....
...The revelation has intensified concerns over the future of the heavily indebted company that supplies water to the population of London and beyond....
...Thames Water has more than £18bn of debt including £15.6bn of net debt at the operating company level....
...Thames Water has a complex group structure with seven layers between the parent company and the operating company, which is regulated by Ofwat and collects customer bill payments....
...In the letter, Coucher warned that the number of “criminal convictions” faced by water companies was too high....
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