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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....
...executive David Black, placing them at greater risk of breaching their statutory duties....
...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....
...Lucy FisherJust finally, George, is there something to what David Lammy’s said that this is a smear campaign by the Tories against a northern woman....
...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....
...Welsh Water has been told to pay £40mn to customers after misleading regulators on leakage and water consumption over a five-year period....
...commitment to invest a further £500mn....
...Now, after several decades, the overall trend is towards “remunicipalisation”, or the return of water services to full public ownership and operation, says David Hall, visiting professor at the University...
...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....
...However, David Rowland, chief executive of the Centre for Health and the Public Interest, a think-tank, said Labour’s plans were based on a “series of misunderstandings about the role the private sector...
...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....
...Frasers’ chief operating officer David Al-Mudallal and Ger Wright, a managing director, will join the board as executive directors....
...Thames Water, the government and Ofwat are now rushing to find a solution....
...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....
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